India, like other countries, must shape up or slip into contagion and crisis.

The slide in the rupee is propelled by multiple factors

The Indian currency appears fairly valued if one looks at price levels on the one hand and average purchasing power parity income levels on the other

More than $75 billion of foreign savings will be needed to fund the estimated current account deficit for the fiscal year that will end in March 2019

There is a booming industry in petro price jokes. Videos and words from the past are haunting the BJP in 2018.

The journey from systemic somnolence to stated “concern” to panic depends on the velocity of volatility and the momentum of events. 

The baritone of rising crude prices and the shrieking falsetto of the falling rupee have announced crises amidst operatic politics.

A week, it is said, is a long time in politics. So it is for the economy.