Wednesday, 21st November, 2018

Snippets

Government decides to take strict action to arrest fall of Rupee, will rename 'falls' to 'rises

16, Oct 2018 By Guest Patrakar

New Delhi: India on Monday sought a review of payment terms with major oil producers as part of the National Democratic Alliance (NDA) government’s strategy to help counter a depreciating rupee and high global crude oil prices.

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But there had to be a short-term measure taken to show confidence to the investors and also bring some positivity in the festive season.

Finally, that short-term measure was taken today as the Finance Ministry has decided to rename ‘falls’ as ‘rises’ for the short term. Arun Jaitley while speaking to the press said that this may be a short-term measure till the government finds some concrete solution to arrest the fall of Indian currency.

The Sensex rose by 600 points on the announcement by Arun Jaitley and the rally is to be seen in the coming days too as per the Financial Gurus in India.

The government is also forming a committee to decide which names should be changed to bring about a positive change during the festive season. Some suggestions which came to the government was to rename Mumbai as Delhi so that fewer people come to the city and make it crowded. The other one obviously came from the government employees who said that Corruption should be renamed to ‘service charge’ as the employees are providing a valuable service.