India now has debts of $usd360 billion but reserves of only $USD 240 billion.
Every day the rupee declines, the foreign dent goes up.
The reserve bank of india is jacking up interest rates (despite rapidly slowing growth) and cratering the economy.
India now cant feed itself and the corrupt middle class are sending all their money offshore as they also squander India's future in an import bill of 'western' goods that now exceeds India's trade exports.
Nearly half a billion indians -475 million live in absolute filth, squalor & poverty.
The IMF has told India it is a 'failed economy' and that it's about to crash big time into a major recession.
This is from the reserve bank governer of india :'somehow we will have to muddle thru''can't borrow more, have to spend less, tighten our belts, reduce imports, learn how to feed ourselves',,'put a stop to corruption and the tens of billions flooding out of india'(from the corrupted middle class who have stolen it all).
Good luck but we doubt it.
India is more corrupt than ever.
India is about to collapse into a catastrophic mess of it's own making.
A corrupt middle & lower middle class ($6 a day income =lower middle class!)
!of India of less than 45 million has stolen, spent or squandered around 380 billion or nearly $8,000 each in the last decade - say $2,000 each in living beyond their means or what they have been stealing from India.
Now India is about to collapse, these corrupt people will run to the exits with foreign passport or visa application in hand so they don't face the consequences.
The IMF is correct.
India is a failed state and now a burden on the world.
It should be put under UN supervision, disarmed, broken up, and have forced land and wealth distribution.
Every Indian that stole from India and hid it offshore should have their wealth confiscated. Areas of India that do not belong like the eastern side in Muslim enclaves or Kashmir should be sold off.
Hindu nationalism should be outlawed.
That's what's coming anyway with what will be poor rural area and Muslim rebellions as well as civil war : so may as well get it over & done with.