Falling rupee: a kick in the pants for Congress

Will the crash of the rupee to a record low of Rs 54.68 per dollar be a "kick in the pants", to quote economist Arvind Subramanian, that finally forces the government to slash unwarranted subsidies and deepen reforms? Hopefully yes. But Rohini Malkani of Citibank says, after a US visit, that foreign investors view the government as structurally paralyzed.

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