Best of BS Opinion: Defending the rupee, fiscal consolidation today & more

Here are the top BS Opinion articles of the day

The Reserve Bank of India’s recent measures aimed at boosting foreign exchange inflows to support the rupee will have a limited impact because of the overall global risk averseness. Also, as the top edit argues, defending the currency may become increasingly costly and perhaps unsustainable. Since the RBI has ample reserves to quell excess volatility, it should allow the rupee to depreciate in an orderly way, it says. Read it here 

In other views:
 

T T Ram Mohan explains why he thinks that though inflation may be above the upper limit of the inflation targeting framework there is room for optimism about growth prospects for the Indian economy in 2022-23. Read it here

Rathin Roy points out that the solution to the continuing fiscal crisis is a medium term roadmap that acknowledges the hard times we are in and the policy initiatives that will address these challenges. Read it here
 

The second edit says DGCA, the aviation industry regulator, needs to be more rigorous in its response to safety issues. Read it here

QUOTE OF THE DAY

‘It is good news for the country that Boris Johnson has resigned. He was always unfit for office’

UK Labour Party leader Keir Starmer