Former CEA Arvind Subramanian has labeled India’s current currency crisis as a daunting challenge for new RBI Governor Sanjay Malhotra, pointing out the inevitability of the rupee’s decline and the tough choices facing the central bank. Subramanian criticized the policy framework inherited from Malhotra’s predecessor, Shaktikanta Das, which led to a breaking point in the rupee’s stability, with only two options available for the RBI: gradual depreciation or sudden significant drop, both carrying risks of speculative pressures and economic disruption. The recent record low of the rupee against the dollar, driven by various factors, has prompted Malhotra to consider allowing greater currency flexibility, although Subramanian cautioned of impending turbulence and the formidable challenge of balancing export competitiveness with oil import costs for the RBI.
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After NISAR mission, India to launch 6500-kg US communication sat: Isro chief
After launching the NISAR mission with the US, India plans to launch the 6,500 kg Block-2 BlueBird communication satellite in a few months, enabling direct-to-smartphone broadband connectivity. The satellite, using AST & Science's technologies, will be launched aboard Isro's LVM-3-M5 rocket from Sriharikota, further enhancing Indo-US space collaboration. Want More Context? 🔎
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