Friday, August 30, 2013

secondary steps in improving indian currency value:



In the last post, we seen the primary steps in improving indian currency value. In this post, we are going to discuss about secondary steps which looks simpler but effective:

- Gather our neighbours:

Yes, Pakistan- Sri lanka- Bangladesh - Nepal - Afghan. They all having less money value than INR. If they all started following Indian currency system as an Indian subcontinent. Then, Indian currency value get improved. More chances for the neighbors to strengthen their economic situation.

It is simpler idea to use common currency for Indian subcontinent.  But, not easy to gather them follow INR as their currency.


- Idea similar to Euro:

European countries emerged with the idea of Euro. Why Asian country bring similar idea like euro. A common money for all asian country. It will be more useful and beneficial. We need few top contenders.
Singapore, Malaysia, China, Japan and India. (Korea is a good contender but not easy to get them in.) If these countries follow a common currency ( it should be new currency like Euro), then problem is almost over.

Even if 2 or 3 asian country ready to join the hands, then New Asian currency will challenge USD for sure. But these secondary steps are very lengthy and time taking process... surely give superb result.

Lets keep up our good hope :)

Regards,
NewWorld

How to improve Indian Rupee value?

For the past 24 months Indian rupee getting worsen than ever. Value of Indian Rupee against USD moved from 40 mark to 65 mark in the last 3 years and more than 10 rupee hike seen in very recent time. All economist, politicians feels the heat, but people who are working in the abroad feels happy.
Let me break the ice:

If Indian rupee hit lower, it will be bad sign. Expatriates must understand the truth. It looks like they are sending same money, but more INR reached in their homes.
Truth:
All fuel (petrol, gas)- Crude oil: Rates are fixed in international markets in USD.
Gold rates are fixed in foreign currency not on INR value.

If INR value gets historic low, then the value of fuel need to increased in order to compensate the loss due to the INR hitting floor. If oil prices get hiked in India, it will be chain reaction and other commodity gets hiked. Things which are imported from other country will ask us to pay on their money value. So we need to face the challenges. So, even expatriates and their families also not in safer zone.

What shall we do now?


-Values are fixed based on the demand. This is the basic law in business, economics. We need to create the demand for INR. So, don't give enough room for foreign investors. Tighten the value for brand India. 

- Try to make all import and export based on INR and don't follow on any other currency. Fix the rates on Indian currency and get paid on Indian currency.

- Try to increase more tax on foreign goods. Not just one. All sorts of machinery and other stuffs need to hike the import tax. So, people won't go for foreign items. Indian products get boomed.

- Hike the taxes for sports and entertainment field. Also, hike the tax value for product which are doing endorsement.

- Hike the taxes for cigarettes and other related stuffs up to 2000%. i.e. 20 times hike in the price of cigarettes.

- Same level hike in tax for alcohol and beer related stuffs.
(Note: If cigarettes and alcohol stuffs price hike may change the situation of the people. Disease related to cigarettes and alcohol will be gradually reduced due to this unbearable price hike.)

- we must fasten the passport and visa processing methods, also hike the price.

- India need to stop depending on other nation for fuels.
How to do that?

Simple:

- switch to solar power and build more number of solar power station on all the villages and towns.

- Need to hike the taxes on non-renewable based vehicles.

- Give more funds for solar powered cars and bikes. Even electric bikes and electric car also taken in to account.
- Each houses should hold solar based power cells for minimum or basic appliances. Just imagine, if all the houses started using the solar power, India's demand for electricity gets reduced drastically. 

- Need to improve small scale industries

-  Public transport should be improved, even reducing the ticket cost will induce the people to use it instead of private vehicle.

 These are primary steps needed now to improve the indian currency value.

We can see some secondary steps in future post...


Regards,
NewWorld
     

 

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