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We seem to be learning that currency depreciation is not always bad: Panagariya
Arvind Panagariya, chairman of the 16th Finance Commission, outlines the benefits of a weaker rupee for exports. He stresses that rising import costs can maintain the competitiveness of domestic products. The need for tariff cuts, elimination of quality control orders, and revision of bilateral investment treaties is emphasized. Panagariya also mentions the current economic stability and potential growth of 7-8%. He…