Sunday, July 18, 2010

The Indian Rupee

The Government on Thursday 15, July 2010 adopted a new symbol for the rupee that shall be used henceforth to represent the Indian currency in all written and electronic communication worldwide thus joining the elite club of currencies such as UK's pound sterling, US dollar and the Japanese Yen that are identified by a symbol.

The Indian Government is of the opinion, with this the Indian rupee will also be seen as a distinct entity from its name sakes in the neighbouring countries such as Pakistan, Nepal, Sri Lanka and Indonesia, where either rupee or rupaiah are in vogue.

The question to ponder is are we not already different than these countries? and these countries have grown at our own expense and more so as an off shoot of our country.

The old adage “Every coin has two sides” a few citizens may speak for it and a few may against, but as a true Indian nobody would doubt the reasons beyond the making of the symbol.

When we speak about Indian economy do we really need this facial make over?

Will this have any impact to the vast majority of Indians who strive to have the basic necessity i.e. the “Roti, Kapda aur Makaan …” these, three words that have been used often by the leaders of our country to convince people of their priorities and to show the masses that they care? But sadly, more often than not, such promises have remained just words and nothing beyond.

Though our economy has grown over the last 60+ post Independence years and we have achieved a lot; but the rich - poor divide still remains. We still have not made a difference in the lives of millions of our citizens.

Today the need is more than ever for both the private and the Government sector to take this challenge and work together in cooperation and contribute to make a small difference in the lives of citizens and this would surely go a long way in creating a strong India.

Nevertheless it is a very bold move and we all should congratulate ourselves and wish the rupee creates its own identity and really become a leader as compared to other currencies.