Indian Currency from 1 to 54 since Independence: Truth behind developments claimed by Indian government.
There was a time when Indian rupee was competing with US dollar head to head, just after India got independence in 1947 A.D. 1USD was equal to 1 INR but now after so much developments as claimed by Indian leaders, 1 USD is near about 54 times stronger than Indian rupee.
People of India purchase a 900 USD iPhone for 450000 INR, if it was 1947 one would have to pay only 900 INR + service tax for that device.
India, the nation known for its cultures,prosperity,revolutions,patriotism.The nation of rivers,languages and motherland of thousands of religion and castes.There was a time when this land was known as “GOLDEN BIRD” but now it doesn’t resembles the title.India has certainly faced infinite crises in the last thousand-year history.British rule affected the country very much but even after Independence it doesn’t seem to be free completely.The title “golden bird” is lost somewhere today.
Wikipedia says Ancient India in the 6th century B.C. was the earliest issuer of coins in the world and today it is not among the strongest currencies of world.
India was one of the oldest issuer of coins that means country from where the meaning of currency was defined is not strong enough today so that it could be listed in the top 50 strongest currencies of world.
Indian political department always talks about development and all, and if any question raises over the topic “why Indian currency is this much weak?”, they just change the topic by saying India is one of the fastest developing nation of the world.What development they talk about, I don’t have any idea.Let me put some light over the developments in India after Independence.
- The first one is mentioned above clearly, after independence INDIAN RUPEE have gone down from 1 INR = 1 USD to 54 INR = 1USD.
- Today a water bottle costs 15 rupees in the market, is it development ?
- Indian railways, one of the largest employment providing organisation in the world is unable to build a world-class station.
- Average speed of Indian trains is about 60 Km/hr. far away from an average train of European countries or USA, it shows what development Indian government carried out in last 65 years.
- Mumbai, the most developed city of Independent India was considered the biggest slum of world in the year 2011.
- The dreams for what Indian revolutionaries fought for are still dreams, Poor becoming poorer and poorer and government is busy in solving foreign issues.
- The biggest development we can see is that the billion dollar IPL (Indian Premiere League) is played in the same country where millions of BPL(Below poverty line) lives.
- Government passes Foreign direct investment for 15000 Crores to increase development, but don’t even speaks over the thousand billion dollar Black money in Swiss banks.
- Farmers are killed if they demand for their rights.(sugar farmers from Sangli died in lathi charge during protests.)
If the above mentioned conditions are the part of development then no one needs this development.
The world’s largest democracy is not even able to control its system, if any scam comes in front of the system the case on the accused goes on and the results are announced when the accused dies, what for legends sacrificed their life?
The conditions of the nation are very bad not only economically but also in other aspects.
The heart throbbing case like DELHI-RAPE Case happens in the same nation where people keep on talking about cultures and respect.
India in 1947 was free from debts but in last 65 years the country government borrowed so much money in the name of development and today it is facing one of the biggest financial crisis.
History of Indian rupee since 1952
Journey of INR value with respect to USD
- 1952 - 5.00
- 1970 - 7.57
- 1975 – 8.40
- 1980 – 7.887
- 1985 – 12.36
- 1990 - 17.54
In 1991 India faced biggest financial crisis and it affected Indian currency badly.1990-1995 was the time when Current Indian Prime minister Dr. Manmohan Singh became member of World-bank and was the time when Indian economy faced one of the biggest loss.
- 1995 – 32.42
- 2000 – 45.00
- 2006 – 48.33
- 2007 – 38.48
- 2008 – 48.88
- 2010 – 46.21
- 2011 – 53.70
- 2012 – 55.00 TO 57.15 (HIGHEST TILL DATE)
Comment on conclusions by few experts on development in India
Few well-educated people and management guru say that technology improvisation had been the keen factor which proves development in India and the poverty and all the factors are very weak factors to prove that country has not shown development.But I would say just a simple thing, India is the country of agriculture,farmers and poor people, technology meant nothing to them.Technology improvisation is there in poorest countries even that can’t be considered a very strong factor to prove development.
After 65 years of independence, India is at the same place where people are fighting for caste and religion as they used to do before independence.Instead of focusing over development Indian government and political parties are playing cheap politics in the name of religion,caste and culture.Each leader focus over the elections and how to win the election instead of thinking about conditions of country.
Few educated and well earning community people say “why should I indulge in the matter?”No one has time to think about the condition of Nation, it is the condition of a Nation who gave birth to legends like Bhagat Singh and Chandrashekhar Azad.
“Keep on avoiding the Nation, one day the nation will avoid you” that’s my commitment or wake up and know your responsibility.
Indian currency is not weak, the rulers are weak and people of this country need to make them realize what and how it will get strong.