Rupee can recover, but UPA regime can't

On Thursday, Union Minister for Finance P Chidambaram said there was no justification for the “unwarranted pessimism” over the rupee's free fall. But the primary concern is not the tumbling currency, because that is only one element of a larger, more alarming picture: The massive erosion of confidence that business had in the Congress-led UPA Government. This, rather than the rupee, calls for pessimism, and it’s fully warranted.

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