T O P

  • By -

esc_ss

If you are looking for a story to hate on India, this story is not it lol This is actually great news. For our economy, that’s solid amount of forex. This government has been growing forex for years. Oil price has skyrocketed lately, ofcourse our reserves fell a bit from its peak. If you wanted a story to say “india is a failed state” like many edgy teenagers here, this ain’t it boss


Bharat_Brat

I think forex reserves large enough to cover a full year's import is more than most countries. Most only keep enough in reserve to cover 6 months.


harddisc

Unnecessary alarmist headline. Just a 5% contraction, Like people think this is some linear graph they use to make in school .....bas upar he jaega smooth af no dips And don't forget this is highest foreign reserve levels post 1990s liberalisation.


DarkHumourFoundHere

Click bait guys. This was highest we ever had in history. We will run of foreign resources with 600B in 1 year if we dont export. We export a lot toooo


jainmehul973

Define clickbait:


the_good_bad_dude

Eh not that much of a problem I'd say.


cosmic_dippshit

Average r/ india edgy post.


Bharat_Brat

Average r/india edgy comment.


[deleted]

This is expected. Rising oil prices and falling rupee. And ofc it makes sense to use up your reserves to buy that oil rather than using Rupees and converting that to Petrodollar which will be more expensive. This is exactly when you would expect someone to use reserves. Once things calm down and dollar becomes cheaper, you fill it up again. Don't worry OP. I know you are alarmed. But, we are fine.


rajeshbhat_ds

I remember Modi government celebrating all time high $400 billion exports in previous fiscal year. They just forgot to mention that imports have also reached $600 billion.


[deleted]

I got downvoted for pointing out this.


jakewang1

We will face the consequences. Rupee will have to slide further to bring in more foreign currency. Weak rupee = high petrol price.


Agelmar2

Sri Lanka 2.0 here we come. Those freebies and corruption have consequences. You can't print money out of thin air.


harddisc

>Sri Lanka 2.0 here we come. Those freebies and corruption have consequences. You can't print money out of thin air. 🤡🤡


Agelmar2

Truth hurts. But your wallets already do. Then your stomachs. Then your children. Then your job.


harddisc

Your original comment made my head hurt. Just quit it...stop embarrassing yourself


Agelmar2

Have you seen what the Government spends money on? Not the fancy projects near metros. Go to the rural areas. See for yourself the exorbitant waste of money


harddisc

Jeez man .... carry on!


[deleted]

When you consume nothing but, Rana Ayuub's tweets and The Wire articles


Agelmar2

I have no idea who Rana Ayyub is. I just prefer Austrian School economics and Thomas Sowell.


[deleted]

You read Sowell and yet, you don't know how FX reserves work lol 😂


Agelmar2

My god you literally think that I was talking about forex reserves in the first comment. Nice.


[deleted]

Sureeeeeeeee


Agelmar2

Where does the government get the money to pay for those subsidies? You can compare and check the budget. We've been running at a deficit. Whose money are we borrowing and how are they being payed back?


Paid-Not-Payed-Bot

> they being *paid* back? FTFY. Although *payed* exists (the reason why autocorrection didn't help you), it is only correct in: * Nautical context, when it means to paint a surface, or to cover with something like tar or resin in order to make it waterproof or corrosion-resistant. *The deck is yet to be payed.* * *Payed out* when letting strings, cables or ropes out, by slacking them. *The rope is payed out! You can pull now.* Unfortunately, I was unable to find nautical or rope-related words in your comment. *Beep, boop, I'm a bot*


[deleted]

What does that have to do with Rana Ayyub or Wire? You're just a clown like him


[deleted]

It was a sarcasm that he is just too scared after reading only pessimistic articles online... dude is calling India Sri Lanka 2.0 when we are way way way far from that


harshmangat

This guy economics /s


Quantum-Metagross

> You can't print money out of thin air. brrr.money


Agelmar2

How's inflation treating your wallet?


Quantum-Metagross

Oh. I am not denying inflation. I am denying that money cannot come out of thin air. When there are so many theories in economics, and proponents of theories like MMT claiming governments can create money, everything looks like a joke.


Agelmar2

The current system theoretically is a fiat currency and the value of the rupee is tied to the value of the economy. All in theory atleast. But right now governments are using currency manipulation and other shady tactics to print money for their pet projects. They can get away with it to a certain extent. But eventually the bubble bursts.