RSS economic wing bats for stronger rupee, contrary to Arvind Panagariya prescription
The Swadeshi Jagaran Manch (SJM), the economic wing of the RSS, advocates for a stronger Indian rupee, opposing the view of Arvind Panagariya who suggests allowing the rupee to depreciate beyond ₹100 per dollar. SJM co-convenor Ashwani Mahajan argues that further depreciation would harm India's global standing and that domestic industry needs protection from foreign competition. He emphasizes that structural issues, rather than inefficiency, are the root cause of challenges faced by Indian industries.
- ▪The SJM believes the rupee should be supported to avoid hitting ₹100 per dollar.
- ▪Arvind Panagariya suggests the RBI allow the rupee to slide beyond ₹100, viewing it as just a number.
- ▪Ashwani Mahajan argues that the rupee's depreciation would negatively impact India's global GDP ranking.
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The debate raging over whether or not the rupee should be bolstered by the Reserve Bank of India (RBI) gained another perspective, with the Swadeshi Jagaran Manch (SJM) weighing in. The economic wing of the Rashtriya Swayamsewak Sangh (RSS) said on Friday (May 22, 2026) that the Indian currency should be supported, and not allowed to hit the ₹100 per dollar mark.On Thursday (May 22, 2026), Arvind Panagariya, the chairperson of the 16th Finance Commission and former chief of the Niti Aayog, had posted on X, saying that the RBI should allow the rupee to slide even over ₹100 per dollar. That figure “was just a number”, he said.
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