Orderly depreciation of rupee to increase competitiveness: World Bank Official

An orderly of the rupee would increase competitiveness and relieve some of the pressures in market, according to a top who described it as a “positive development” if done in a right way. Prompted by the adoption of the Goods and Services Tax and the recapitalization of banks, growth in is firming up and it is projected to accelerate further, it said. The slowdown in India’s economic growth in previous years was partly the result of demonetization and some other policy uncertainty, he said. The World Bank, he said, is concerned that not just in India, the fiscal policy stance has been too expansive given the overall situation of the And that is exemplified by election cycles not just in but also other countries in the region as well, he said. Rama said the devaluation of currencies of South Asian countries would add to their competitiveness in the case of increased trade tension between US and Overall performance of India has been strong (in the last decade),” Rama said.

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