ECONOMIST Paul Krugman has recently written a column in The New York Times on the depreciating Indian rupee. He comes to the conclusion that India’s present currency crisis is fundamentally different from the East Asian currency crisis of 1997-8, since India’s debt, denominated in foreign currency, is small compared to what it was for the East Asian economies then. Hence he argues that there is no cause for India to panic; the rupee will depreciate for a while and then settle down, which would mean an upsurge in inflation for a while before prices too settle down.
Historic Kolkata Peace Rally
Protests against US Imperialism
Says No to War on Syria
THE entire state of West Bengal came out on the streets in lakhs on September 1 to protest against all forms of imperialist occupations in the world. The rallies expressed anger against imperialist depredations and the neo-liberal economic policies being pursued by the ruling opportunist powers.
The recent riots in Muzaffarpur are a cause for great concern. Deliberate polarisation is being attempted to divide the people on communal lines. The AIDWA condemns the violence and demands immediate intervention to restore peace. The Uttar Pradesh unit of the AIDWA held a peace march on September 10, 2013 along with all the sections in the society