Sir — This refers to the report, “Govt mulls currency swapping as Rs goes into tailspin” (August 29). The steep fall in the rupee and the increased cost of crude imports adding to its woes and widening the current account deficit, are worrying issues and demand effective intervention by the Government.
Experts have opined that our current distress is due to the lack of investors’ confidence, and that has resulted in an unchecked outflow of capital by foreign investors. The other big economic blunder has been the decision to push through the food security Bill at a time when the public exchequer can ill-afford it.
The economic health of the country cannot be sacrificed at the altar of vote-bank politics, which is what the populist food security scheme is all about.