Indian rupee higher on Manmohan Singh’s reforms push

In yet, performing as the weakest in the Asian largest economy almost a decade, the Indian currency now being stronger as the controlling handed to Indian Prime Minister Manmohan Singh as performing role of the Finance minister.

Reports said, on Thursday there is push in the performance of rupee that opened today at 56.94/98 to a dollar, as against Wednesday’s close of 57.15/16.

However, this strengthen move is only possible because of Mr. Singh who summoned ministry to make formulation of an economic revival plan in wake to address the initial need of solving “problems on the tax policy,” as well as in the mutual funds and insurance industries, that helps in increasing the investor sentiment.

Being restore confidence in Asia’s third-largest economy, Mr. Singh addressed a meeting in News Delhi yesterday and said, “At the current juncture, we are passing through challenging times economically. We need to work to get the economy going again and restart the India growth story,” source reported.

This week, Finance Minister, Pranab Mukherjee resigned to take part in President Polling race and over all charge has taken by Mr. Singh who already experienced and bosst economy as finance minister in the 1990s.

Meanwhile, once again Mr. Singh will resume his experience and resolve all the backdrops that weaken the Asia’s third-largest economy in form of fiscal deficit borrowing, a weak tax policy and highest recovery in global exchange rate that resulted lowest grade rate over investment.

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