The decline in value of the rupees does not bode well for the common man or "aam admi" in India. The "aam admi" are too busy trying to make a living and are not aware of the decline in value of the rupee. But it is bound to hit them soon. Petroleum imports (India imports most of its Petroleum) will cost more, and soon the price will be seen at the pump. As the price of petroleum goes up, so does everthing else, including transportation and commodities. The rich, having parked their funds in foreign countries are largely un-affected. All the sweet talking by our Harvard trained Finance Minister will not change the basics of India's economy. Instead of focusing on the economy, the Government of the day is busy doling out freebees to ensure their re-election next year. The current deficit will skyrocket, the foreigners trust and respect for the rupee will continue to decline. Let us hang on to our seats and see how India wiggles out of the mess it has created for itself.
