India looks for the upside to the rupee crisis - that it will boost exports . `` Unfortunately , we think the slowdown has further to go , which presents greater challenges for policymakers as they try to stabilize the currency . '' Analysts say its industrial base is too small and too bound up in red tape to respond quickly . The government has been trying to get a grip on inflation by raising interest rates but Government borrowing is fueling excess demand and widening the current account deficit .
India looks for the upside to the rupee crisis - that it will boost exports . Analysts say its industrial base is too small and too bound up in red tape to respond quickly . The government has been trying to get a grip on inflation by raising interest rates but Government borrowing is fueling excess demand and widening the current account deficit .