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Rupee is stronger today vs Euro, British Pound, Canadian and Australian Dollars

Around this time last year, the anti-Modi brigade had coalesced around a certain narrative: that the Indian economy is in terrible shape. One JNU economics professor, in an interview published in Scroll, even argued that India was facing “economic collapse.”

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JNU professor calling it an ‘economic collapse’

A year since that time, India’s GDP growth stands at a sparkling 8.2%, the envy of the world. We are the fastest growing economy, after all.

Want to hear a scary story? The JNU professor who predicted a collapse of the Indian economy is still employed at JNU, presumably drawing a salary at expense to the taxpayer, and presumably imparting his magical economic wisdom to a whole new generation of young students.

So what does the anti-Modi brigade, much chastised by the reality of the Indian economy, do next? They grasp at straws, seizing on the recent weakness in the Indian Rupee versus the US Dollar.

So how do we judge whether the Indian currency is really weaker today than it was under ‘great economist’ Dr Manmohan Singh?

The truth, as you will see, is that the Rupee is stronger today versus most major currencies than it was under UPA (all currency graphs generated from http://www.xe.com)

Let’s begin with the EURO. Here is the 10-year chart:

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Just see the rising red line of the UPA disaster from 2009 to 2014. This is what Dr Singh did to the Indian Rupee. At one point, the Euro was trading at nearly Rs 92 under his rule. Today the Euro is around Rs. 84.

Next, we come to the British Pound, another big global reserve currency other than the US Dollar and Euro.

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A nearly identical graph, showing the disaster that was Manmohan Singh. At one point under him, the British pound touched almost Rs 107. Today it trades at about Rs 94.

Let us now take a look at other major Western economies: Canada and Australia. How has the Indian Rupee fared compared to them?

Let’s start with the Canadian Dollar (CAD). Let’s put up a 10-year chart and just look…

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Breathtaking! Just see the Rupee nosedive under Dr Singh!

The increasing strength of the Indian Rupee under Modi is so obvious here that you would have to be a JNU economics professor to not see it.

The same story is repeated with respect to the Australian Dollar (AUD).

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Again the 10-year chart shows the absolute carnage of the Indian Rupee under Dr Singh and the way Modi govt shepherded our currency and gave it strength.

Okay, next. What about the Japanese Yen? Could Dr Singh, with his fancy economics degrees, have outperformed Modi here? Let’s find out.

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Okay, so Dr Singh still lost, just not as badly as he did with respect to the Euro, British Pound, Australian and Canadian dollars. Under Dr Singh, the Japanese Yen traded at a high of 72 paise, while it is around 64 paise today.

A defeat for UPA again, just not as shattering as its other defeats. Being the charitable person that I am, I’ll put this down as a ‘moral victory’ for Dr Singh!

Next. Let us look at India’s peers in emerging economies, the so-called BRIC group. Let’s start with the Brazilian Real.

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No competition for Modi here. Brazil, once seen as a competitor to India during the years of Dr Singh, has been left behind in the dust.

Next, we come to the Russian Ruble. This one is a feast for the eyes.

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Oh! It is almost like the great nation of Bharat was limping along from 2009 to 2014, not knowing what it was really capable of. Then, some magic happened in 2014 and immediately the whole nation took a quantum leap forward into a much stronger future!

The sort of quantum leap that you might expect if the nation was suddenly pulled out from under a clueless tea-seller and thrust into the able hands of a world-renowned economist PM!

But that’s not all!

I saved the best for the very of end. The chart for the Chinese Yuan.

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See the rock-like stability of the Indian Rupee vs Chinese Yuan under Modi. And just see what Dr Singh did to it. See the years when the Yuan soared and the Rupee collapsed under UPA.

Can there be a more stinging indictment of the way UPA ran our currency into the ground? And now they use their minions in the media, intellectual and academic ecosystem to taunt Modi for the USD vs INR conversion rate.

In these charts, I’ve gone all around the world: all over the West (Euro, Pound, Canadian Dollar, Australian Dollar) to emerging markets (Russia and Brazil) and to Asian giants (China and Japan). Modi has outperformed Dr Singh in every single one of them, often by massive margins.

So what is happening with the US Dollar and the Indian Rupee? It is now clear that it is the US Dollar which is stronger and not the Rupee which is weaker. If there was some problem with our economy, the Rupee would have been hammered with respect to other currencies around the world, not just the USD.

Now that we have established this, I am going to take the argument of Indian liberals to its only logical conclusion. They are not going to like it one bit.

This is the data, whether liberals like it or not. Of course, liberals have been known to advocate for “narrative” instead of “fact” (or mahaul over data) and this would be a good time for them to repeat those arguments.‘

Supreme Court extends house arrest of five ‘Urban Naxals’ till September 19

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The Supreme Court today extended the house arrest of the five ‘Urban Naxals’ till September 19, who were arrested in connection with the plot to kill the Prime Minister Narendra Modi and Bhima Koregaon violence. The apex court will also hear a plea filed by Romila Thapar and four others on the same day.

According to the reports, the central government had objected to the decision of the top court to entertain the petition filed against the arrests of five ‘Urban Naxals’ for their alleged links with left-wing terrorists. The Centre said the lower courts should have been approached first against the arrests of the five activists rather than the filing petition in the country’s top court.

The apex court will take up the plea for the final hearing on Wednesday and it observed that every criminal case is based on allegations, adding that it wanted to see whether there was any credibility in the case. Reportedly, the Central government will also produce the case diary and other evidence related to the case on that day.

“We have to see police documents. We may cancel the case here if there’s nothing. If it calls for our interference, we will look into it,” a bench of Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud said.

Maninder Singh, appearing for the central government, told the Supreme Court that the “menace of Naxalites and Maoists was increasing day by day” and said that the accused activists were behind the “increasing threat of anti-social activities”.

Additional Solicitor General Tushar Mehta, appearing for the Maharashtra government, challenged the petition filed by historian Romila Thapar and four others, saying that the petitioners are neither related to the case nor they have any idea about it.

Reacting to the centre’s petition, Abhishek Manu Singhvi, appearing for the petitioners, claimed that none of the accused was present in the ‘Elgaar Parishad’ event and none of them was named in the FIR lodged in the Bhima Koregaon violence case. Singhvi asked the top court to set up a Special Investigation Team (SIT) or a court-monitored investigation team to look into the allegations.

In a nationwide crackdown, the Pune police had arrested ten ‘Urban Naxals’ who are alleged to be a part of a sinister plot to kill the Prime Minister Narendra Modi in retaliation to the massive success achieved by the government in ending the left-wing terrorism in the country. The raids  were conducted in the residence of activist P Varavara Rao in Hyderabad, ‘human rights activist’ and ‘journalist’ Gautam Navlakha in Delhi, ‘activists Vernon Gonzalves and Arun Pereira in Mumbai, ‘civil rights’ lawyer Sudha Bhardwaj in Delhi, civil rights ‘activist’ Anand Teltumbde in Goa and ‘activist’ Stan Swamy in Ranchi.

SC orders security for Shabnam, one of the petitioners against nikah-halala and polygamy after acid attack

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The Supreme Court has ordered that security be provided to Shabnam Rani, one of the petitioners in the nikah-halala and Polygamy case who fell prey to an acid attack, and stated that SSP Bulandshahar will be held liable for her safety and security.


We have reported earlier that Shabnam, who is a victim of triple talaq herself, was attacked with acid by bike-borne assailants when she was on her way to meet the SSP to register a complaint regarding an alleged assault by her in-laws the previous night. The attack is believed to have been committed by her brother-in-law with assistance from his friends.

We had reported on the 14th of September that the Supreme Court had agreed to hear Shabnam’s plea seeking security on the 17th of September and had issued a notice to the Center and the State’s Additional Attorney General on her plea. She had also sought better healthcare.

Numerous petitions have been filed in the apex court challenging the prevalent practices of ‘nikah halala’ and ‘polygamy’ among Muslims. Nikah-halala is a practice of a divorced woman having to consummate the marriage with another man and then getting a divorce from him to be eligible to marry her previous husband. Many Muslim women are slowly mustering up the courage to raise their voices, against these practices despite various threats , but atrocities against victims of triple talaq seize to stop.

In July, Raziya, a Triple Talaq victim, was allegedly beaten and starved by her husband and eventually died during treatment. In another incident, few years after a woman was forced to go through halala with her father-in-law was again forced to go through halala with her brother-in-law.

Congress stakes claim to form government in Goa as Manohar Parrikar receives treatment at AIIMS, reports

With Manohar Parrikar admitted in AIIMS for treatment, the Congress party has reportedly approached the governor in Goa to stake claim to form the government.


The Goa Pradesh Congress Committee had appealed to the governor in Goa on Sunday to give them an opportunity to form a stable government in the state. “The Congress has never hesitated to play the role of a constructive and effective opposition, but we will not hesitate to come forward and take responsibility to form a government. We have already cautioned Honourable Governor Her Excellency Dr Mridula Sinha about a possible ploy by the BJP to fraudulently impose President’s Rule in Goa, through the back door,” the Congress had said in a statement.

In its letter to Governor Mridula Sinha that the government in Goa was not functioning and requested an invitation to form the government in the state. But there hasn’t been a meeting between the governor and them yet. The Congress is currently the single largest party in the state with 16 MLAs while the BJP, with 14 MLAs, has formed a government in the state with its coalition partners, Maharashtrawadi Gomantak Party (MGP) and Goa Forward Party (GFP), who have 3 MLAs each and 3 Independents.

OpIndia.com had earlier speculated that there was a distinct possibility that the BJP government in Goa might collapse should Manohar Parrikar resign as the Chief Minister since their allies had agreed to support the BJP only on the condition that Parrikar is appointed the CM. However, the Congress is itself a divided house with an uninspiring central leadership although it only needs the support of 5 MLAs to form the government in the state. Therefore, it appears unlikely that the fate of Goa will become clear anytime soon.

Rewari gang-rape: CM urges public not to harbour the rape accused

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A nineteen-year-old CBSE topper from a village near Rewari in Haryana, who was felicitated by the President after she topped the CBSE board exam was brutally gang-raped by a dozen men while returning from her coaching classes earlier this month. The incident had created a huge uproar in the media.

Haryana CM ML Khattar, while assuring the public and the victim’s family that strict action would be taken against the accused, appealed to the public not to harbour the two accused who are still absconding. “Strict legal action will be taken against those who harbour them”, said Khattar while addressing the media.


According to reports,  three people, who belong to the victim’s village, had kidnapped her in Kanina from where she was taken to a farm in Jhajjar district. There she was gang-raped by around 12 people. The accused later threw her near a bus stop in Kanina. According to several reports, the family of the victim alleged that the perpetrators had threatened to kill the teenager if she reported the crime to the police. They have also alleged the police of refusing to file an FIR.

The special investigation team (SIT) who have been probing the case recently, has made three arrests so far. Cops arrested one of the main accused, Nishu Phogat, who is said to be the mastermind behind the heinous crime, Deendayal, the owner of the room where the crime transpired, is booked for criminal conspiracy as he was aware of the gang-rape but did not inform the police and Sanjeev Kumar, the medical practitioner, who examined the woman after her health worsened due to sedation and sexual assault. He too has been booked for criminal conspiracy.

The police suspect that the medical practitioner knew about the crime the men had committed but did not inform anyone. SP Nazneen Bhasin, who is heading the SIT has informed media that the doctor was allegedly present at the scene of the crime but did not report it. The police are also suspecting his direct involvement though earlier it was reported by media outlets that he is a key witness and is being protected by the police.

The incident which occurred on 12th September had raised several questions because though the family had filed a complaint the same day, no action was taken by the police immediately. The police’s inaction for almost 14 hours had raised several questions on their competence.

Almost after 72 hours with not a single arrest made till then, the Special Investigation Team (SIT) headed by Nazneen Bhasin, Superintendent of Police in Nuh, was constituted.

The Special Investigation team did make a quick breakthrough in the case by nabbing the doctor and subsequently making the other two arrests.

The Haryana CM too had to withstand several criticisms so far, as he had reportedly not only dodged all questions asked to him regarding the incident but had also snapped at the journalists when he was confronted with proofs that exposed the incompetence of the Haryana Police.

Amidst the uproar, the mother of the victim had claimed that she was offered Rs 2 lakh compensation cheque from the government. However, she has refused to accept it and demanded justice for her daughter.

Congress dials up its Hindutva image in Madhya Pradesh

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As the assembly elections in Madhya Pradesh comes closer, Congress party is increasing its effort to project its ‘soft-Hindutva’ image, in fact perhaps attempting to drop the ‘soft’ altogether. After Rahul Gandhi’s close aid Randeep Singh Surjewala had declared that Congress has “Brahmin Samaj’s DNA” in its blood, and State Congress president Kamal Nath promised that a Gaushala will be built at every Panchayat in the state, the party has decided to capitalize on the recent pilgrimage by Rahul Gandhi to Kailash Mansarovar. The party has been trying to do an image makeover of the Gandhi family scion by describing him as a Janeu dhaari Hindu, and as a Shiv Bhakt, or devotee of Lord Shiva.

The party has put up posters with photographs showing Rahul Gandhi worshipping a Shiv Ling, with a snow-capped Himalayan mountain peak in the background. The photographs were tweeted by news agency ANI. The posters have been erected ahead of a  roadshow by Rahul Gandhi with which he will launch the party’s campaign for the assembly elections.

Poster showing Rahul Gandhi worshipping Shiv Ling

It is not the first time the ‘secular’ Congress has tried to project a ‘Hindu Rahul Gandhi’ before an election. The highlight of Rahul Gandhi’s campaign during the Gujarat assembly election was ‘temple run’ of several temples in the state. The same pattern was continued into Karnataka election campaign also.

The party has also put up giant cutouts of several of its leaders in Bhopal, and those cutouts have a notable omission.

Cutouts of Congress leader in Madhya Pradesh, photo by ANI

The cut-out of former chief minister Digvijaya Singh is missing. We have already witnessed a poster war between two leaders of the party in the state, Jyotiraditya Scindia and Kamal Nath. Supporters of both the leaders had put up posters projecting them as future CM of the state. Now omission of Digvijaya Singh in the cutouts add another dimension to the divided house in Madhya Pradesh Congress.

UP Police files complaint against two traffic home guards and a PRD jawan for violating traffic norms

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Social media has evolved from just ‘networking sites’ to a place where one can reach out to authorities in times of trouble and expect action. While law enforcement agencies have at times resorted to witty memes to create awareness and giving out friendly advice to youngsters, recently, Uttar Pradesh Police paid heed to a tweet where Uttar Pradesh traffic police personnel were caught on camera breaking traffic rules and abusing the person who was video recording the incident.

Taking note of the incident, the Uttar Pradesh Police took cognisance of the incident and an FIR has been registered against the two traffic home guards and a PRD jawan.

Recently, Delhi Police, too, caught Rohit Tomar, who was allegedly beating a woman in a video that went viral on social media. Unfortunately, though, it took a tweet from Home Minister Rajnath Singh acknowledging the clip to get the police to act upon it.

NCP Muslim leader says Modi will become ‘dhobi ka kutta’ if he continues to reach out to Muslims

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The NCP leader and Rajya Sabha MP Majeed Memon has created a controversy after he referred the Prime Minister Narendra Modi as ”Dhobi ka Kutta”. This statement by the NCP leader comes after Prime Minister had attended Ashara Mubaraka event held in Indore to commemorate the death anniversary of Prophet Mohammed’s grandson Hussain which was organised by Dawoodi Bohra Community.


Speaking to ANI, Majeed Memon said, “Modi ji, Bohra samaj ke pass gaye iss vichaar se ki shayad musalmano ko rijhha liya jaayega, lekin na woh idhar ke rahenge na hi udhar ke, dhobi ke kutte wali baat ho jati hai“. Modi reached out to the Bohra community in hopes that he will appease the Muslims. But he will be left with no support, like a ‘dhobi ka kutta’.

He further said that “As soon as Narendra Modi tries to involve other sections of the society by stepping away from his ideology, he faces opposition from organisations like VHP”. Memon with this derogatory comment meant that the attempt by the Prime Minister to involve minority communities in the nation build process will result in him getting caught in between his politics and ideology.

Interestingly, the Muslim leader from the NCP is trying to downplay the Muslim outreach programme initiated by Prime Minister Modi. The PM has known to have a good relationship with many Muslim religious leaders since his tenure as the Chief Minister of Gujarat. His Muslim outreach programme seems to have caused worries to some section, as they have been resorting to spreading fake news regarding this event.

Recently, Saba Naqvi, a journalist with questionable intelligence seemed to be unhappy about the recent PM outreach and went to share a fake narrative about the absence of women in the ceremony even though there were a large number of Muslim women attending the event. It was followed by Congress-backed Gujarat MLA Jignesh Mevani, who resorted to spreading Photoshopped image from the event.

The Vatican probe into the Kerala Nun Rape case: a PR stunt for the disgraced

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Reports came in recently that the Vatican has formed a one-man probe panel to investigate the allegations of rape against Bishop Franco of the Missionaries of Jesus after the victim wrote to the authorities of the Church seeking justice.

And now the accused Bishop has written to the Pope seeking permission to step aside from his duties as he is set to appear before the Kerala Police on September the 19th. In the letter, he has maintained his innocence and claimed that the allegations against him are ‘sad and painful to the faithful’.

First and foremost, one wonders what purpose the probe panel of the Vatican will serve. The findings of the Church shall have no legal standing as the matter is being already investigated by the Kerala Police. And one also wonders what is the need for the Vatican to get involved now when the campaign for justice for the alleged victim has gained momentum. If the intentions of the Vatican are honest, then it should take action against Missionaries of Jesus for revealing the identity of the victim in violation of Indian law before proceeding any further. But the Vatican authorities have taken no action against the Church body thus far for its persistent slander campaign against the nun and has issued no statement to that effect either.

More importantly, the track record of the Vatican suggests that we are unlikely to decipher any useful information from its investigation. The Vatican has a history of covering up sexual abuse by its clergymen. Time and again, it has proved that their reputation is of more value to them than the well-being and the health of the hundreds and thousands of children and women who have been abused and sexually exploited by Catholic priests. Thus, the probe panel formed by the Vatican, more than anything, appears to be a desperate PR campaign to salvage some manner of credibility as it staggers from one crisis to the next due to its long history of paedophilia.

It is important to remember that the Pope himself is accused of indulging in the cover-up of sexual abuse allegations against a senior member of the Church. And the allegations were made by an Archbishop himself. The Archbishop also asserted that the Church had become more mafia-like over the years and that the Pope should step down from his position. Under such circumstances, the probe panel formed by the Vatican appears more incredulous as the Vatican itself is headed by a man who has been accused by a colleague of promoting a man who exploited children to higher echelons of power.

The past couple of months have been very bad for the Catholic Church to put it mildly. On July the 31st, the Vatican was rocked after Chile raided various church offices in a massive crackdown as a consequence of child sex abuse allegations against the clergy. Then, on the 14th of August, a Grand Jury Report stated that the Catholic Church had covered up sexual abuse by its priests in Pennsylvania, USA for decades. Then, on the 27th of August, the Pope himself was accused of being aware of sexual abuse allegations against a now disgraced senior Church official and yet promoting him. And only days earlier, a study commissioned by the Church itself revealed that over 3,600 children were sexually abused by its men in Germany between 1946 and 2014.

Under such circumstances, it is absolutely bewildering that the Church has formed a panel to investigate the allegations of rape against Bishop Franco because their resources are obviously spent better elsewhere. Because who knows how many more skeletons lie buried in the closet? But of course, instead of investigating the culture of sexual abuse and pedophilia that has gripped the Catholic clergy, the Church instead chooses to investigate allegations which are already being investigated by the Kerala Police who can be safely said, despite their many inadequacies, a million times more competent at the job and more importantly, far more accountable than the Vatican has proven to be.

There is also the issue that India is a sovereign nation with its own set of laws and authorities to manage its own affairs. The allegations against the Bishop is not merely an internal affair of the Church anymore as the alleged offence is a criminal offence under Indian laws. The Vatican, instead of investigating the allegations against the accused, should instead seek to better understand the culture within its institutions that allows its clergymen to sexually abuse the vulnerable with impunity and the mentality that motivates church bodies to staunchly defend the accused and initiate a slander campaign against the alleged victim. It is not the first time that such a thing has happened and considering the culture of sexual abuse that has gripped the Vatican, it is unlikely to be the last. Therefore, instead of investigating allegations that are already being investigated by law enforcement authorities of a sovereign nation, it should spend its resources trying to develop solutions for the rape culture within its walls.

What’s cooking in Odisha politics?

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Dr Damodar Rout, ex-senior leader of Biju Janata Dal was dismissed from BJD by party president Naveen Patnaik, on 12th September. This doesn’t come as a surprise, though. Dama, as he is popularly called, is known to be a motormouth and speaks out of turn which often embarrasses the party in the public sphere. Perhaps the last straw was when he accused BJD of being run by 3 MLAs Debashish Samantray, Arun Sahoo and Bobby (Pranab Prakash) Das led by an officer. Who is the officer he was hinting at, is anybody’s guess.

Dama was perhaps the last senior member of the party, who was associated with it since its inception. All other members have been systematically driven out. Naveen Patnaik is now the only person in the party carrying forward the legacy, whatever of it is left, of Biju Patnaik. Dama, though a motormouth, is not entirely wrong when he says that party is run by the younger lot. Of course, the final decision lies with the supremo but the daily affairs of the party are definitely being taken care of by the younger lot which doesn’t go well with seasoned members who feel they are being sidelined in the party. That is one of the primary reason, seniors have been revolted in the past and shown the door.

Amongst the founding members, late Nalini Mohanty, Dilip Ray and Bijay Mahapatra were the first in the lot to be been dismissed from BJD in early 2000 for their “utterances against Naveen Patnaik”. BJD has seen a series of dismissal of senior leaders over the years. The significant being Late Pyarimohan Mohapatra, Prafulla Ghadai, Jairam Pangi. Jay Panda and Dama being the latest to fall prey. Reasons are the same, barring Pyari who allegedly tried a coup against Naveen when he was in London. Dilip Ray, Jairam Pangi and Bijay Mohapatra have joined BJP and Dilip Ray is currently an MLA. Except Dilip Ray, most leaders have faded into oblivion after being expelled.

There have been other similarities as well. These leaders, after being expelled, have tried their fortune with forming new regional outfits. While Bijay Mohapatra tried with Odisha Gana Parishad(OGP) which later merged with INC, Pyari babu experimented with Odisha Jana Morcha. To say, these were failures, will be to put it politely.

Jay Panda, who was thought to be close to BJP, has not taken any decision yet. On one occasion, he has hinted that he is still open to contesting as an independent or forming a new party and implied about his bigger ambition. The reason why Jay Panda has not taken any decision on his political future may lie in the fact that, though he was seen close to BJP, he isn’t viewing BJP as the party which can fulfil his bigger ambitions or it may be the other way around. BJP leadership may be wary of what Panda can bring to the table.

Dama babu has also hinted at something similar. In fact, he has made it clear that while he won’t be joining BJP or Congress, he will definitely contest elections and one doesn’t need a party ticket to serve people. Of course, it’s the politician Dama Rout speaking and must be taken with a pinch of salt. Dama has gone as far as naming all those who have been expelled from BJD to come together and form a new party to contest elections in 2019.

It’s interesting to note that soon after news of his dismissal became public, Jay Panda paid him a courtesy visit, which of course in public is said to be non-political. It will be worthwhile to mention that both Dilip Ray and Bijay Mohapatra are unhappy in BJP as well. Bijay Mahapatra may not even get a BJP ticket to contest while Dilip Ray may opt out from contesting with a BJP ticket if the central leadership doesn’t fix things. Dama has named both of these gentlemen along with others to come together and pose a challenge to BJD.

However, Naveen’s popularity has not seen a great dent. He still is the undisputed popular leader of Odisha. A new party with political heavyweights may not see any remarkable success. Ideologically, if this party is to be formed, it will be more leaning towards BJP. What it can do best is to cut vote shares of BJP and in some cases BJD, but going by past precedents it is unlikely that the party will see any significant electoral fortunes. Maybe, like OGP, which since its formation had allied with Congress before merging with it, this new party may try similar experiments with BJP.

2019 elections are still a few months away and as they say, a week is a long time in politics. Nonetheless, interesting times are in store for Odisha politics.