Which of the following measures, if taken by the RBI or the government to counter excessive depreciation of the Indian rupee, may end up being counter productive ?a)Raise import duty on non-essential itemsb)Encourage foreign investments in Indiac)Encourage non-resident Indians to make payments to resident Indiansd)Discourage remittances from certain non-profit organisationCorrect answer is option 'D'. Can you explain this answer?

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Which of the following measures, if taken by the RBI or the government to counter excessive depreciation of the Indian rupee, may end up being counter productive ?

a)
Raise import duty on non-essential items
b)
Encourage foreign investments in India
c)
Encourage non-resident Indians to make payments to resident Indians
d)
Discourage remittances from certain non-profit organisation

Correct answer is option 'D'. Can you explain this answer?

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Which of the following measures, if taken by the RBI or the government...

Currency depreciation is a fall in the value of a currency in terms of its exchange rate versus other currencies. It refers to the decrease in the value of the domestic currency (₹) in terms of one or more foreign currencies (like $).
It makes domestic currency less valuable, and more is required to buy a currency unit. Remittances are funds sent by individuals working or residing outside their home country to their families or friends in their home country.
These funds can be a significant source of foreign exchange and can help support the value of the country's currency. So, Discourage remittances from certain Non-profit Organisations, can become counterproductive in case of tackling depreciation of money.

So, Option (d) is correct.

Answered by Notes Wala · View profile

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Which of the following measures, if taken by the RBI or the government...

Discouraging remittances from certain non-profit organisations:

Remittances from non-profit organizations are usually intended for charitable purposes and are used to support various social welfare programs. Discouraging these remittances can have negative consequences on the beneficiaries and the overall social welfare system. Here's why it may end up being counterproductive:

1. Impact on social welfare:
- Non-profit organizations often channel funds to support education, healthcare, and other essential services for the underprivileged. Discouraging remittances from these organizations can lead to a shortfall in funding for such programs, ultimately affecting the intended beneficiaries.

2. Reputation and trust:
- Discouraging remittances from non-profit organizations may harm the reputation and trust that these organizations have built over the years. It may discourage potential donors from contributing to charitable causes, thereby reducing the overall support for social welfare initiatives.

3. Economic implications:
- Non-profit organizations play a significant role in addressing social issues and complementing government efforts in social welfare. By discouraging remittances from these organizations, there could be a negative impact on the overall economy, as these contributions often support vulnerable populations and stimulate local economic activities.

4. International relations:
- Discouraging remittances from non-profit organizations may strain international relations, especially if these organizations operate globally. It could lead to a perception of discouragement towards humanitarian efforts, potentially damaging diplomatic ties and cooperation in the long run.

In conclusion, while curbing excessive depreciation of the Indian rupee is essential, discouraging remittances from certain non-profit organizations may not be the most effective or sustainable approach. It is crucial to consider the broader social and economic implications before implementing such measures.

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Which of the following measures, if taken by the RBI or the government to counter excessive depreciation of the Indian rupee, may end up being counter productive ?a)Raise import duty on non-essential itemsb)Encourage foreign investments in Indiac)Encourage non-resident Indians to make payments to resident Indiansd)Discourage remittances from certain non-profit organisationCorrect answer is option 'D'. Can you explain this answer?

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