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On this, the Government of India reacted on Tuesday and said that no logic of this is understandable.
India’s Commerce Secretary Anoop Wadhawan told reporters, “I have not understood any economic logic of this.”
He said that the Central Reserve Bank collects money according to market forces.
According to the news agency Reuters, last week, the US Finance Ministry had put 10 economies including India, Singapore, Thailand, and Mexico on the ‘watch list’.
It was said that there is a need to maintain a close watch on the currency collection and other methods of these countries.
The Commerce Secretary said that India’s trade surplus with the US (when a nation’s exports surpass its imports) increased by nearly five billion dollars in 2020-21.
The US report says that India’s bilateral trade surplus with the US was $ 24 billion in goods in 2020, with a financial surplus of $ 8 billion in services.
The report said that the Indian authority should limit foreign exchange intervention without accumulating disorganized market conditions and excess reserves.
Some economists say that America’s new move on India will prevent the central bank from making aggressive intervention in the foreign exchange market.
America has put India in this list for the second time. India was first removed from this list.
America has been included in this list of those countries which deliberately adopt ‘inappropriate currency behavior’ and devalue their currency against the dollar.
A country wants to adopt this trend so that it can artificially reduce its currency by using it to take unfair advantage from others.
The devaluation of the currency will reduce the cost of export from that country and result in an artificially reduced trade deficit.
The US puts a country on this list on various parameters. This includes parameters such as increasing the trade surplus in a ‘significant’ manner in a financial year and purchasing two percent of the country’s reserves of currency during 12 months.
India is being cited for inclusion in this watch list due to the high dollar purchases and increasing trade surplus by the Central Reserve Bank.
In the latest report, India’s trade surplus with the US has exceeded 20 billion dollars.
At the same time, according to the statistics of the central bank, by the end of 2019, India had shown a particularly rapid pace in buying foreign currency.
By June 2020, India had bought $ 64 billion of foreign exchange in four quarters, which was 2.4% of GDP.
The US State Treasury Department of International Affairs in its latest report has put India, Taiwan and Thailand on the watch list and asked them to ‘keep a close watch’ on their currency patterns and their macro-economic policies, describing them as their big trading partner.
At the same time, the name of China is once again included in this list. He has been repeatedly accused of devaluing his currency. Along with this are Japan, Korea, Germany, Italy, Singapore, Malaysia.
India was first added to this list in October 2018 but was removed from this list in May 2019.
No penalty is immediately imposed on a country as a currency manipulator, but due to this the credibility in the global financial market of a country falls.
In a shocking development, YouTuber Praneeth Hanumanthu has become embroiled in controversy following his detention by the Telangana Cyber Security Bureau. Initially arrested for making offensive remarks during a podcast, Hanumanthu's predicament has escalated, resulting in further allegations under the Narcotic Drugs and Psychotropic Substances (NDPS) Act after he tested positive for cannabis consumption. The Context of the Detention The origins of Hanumanthu's difficulties can be linked to a podcast he hosted, which included a conversation that many considered highly unseemly. During this episode, he made inappropriate comments regarding the dynamics between a father and daughter, igniting outrage among viewers and critics alike. This incident quickly garnered the attention of both the public and law enforcement, prompting an investigation by the Telangana Cyber Security Bureau. The primary allegation centered around his remarks, which were deemed to have crossed the boundaries of acceptable discourse. This scenario raises broader inquiries about accountability and the duties of content creators, particularly in an era where online platforms can amplify messages to a large audience. As a public figure, Hanumanthu's statements carry substantial weight, and the backlash he has encountered signifies society's increasing intolerance towards harmful rhetoric. Charges Related to Substances Things took a turn for the worse for Hanumanthu when, following his arrest, authorities opted to perform a drug test. The results confirmed the presence of cannabis in his system, leading to additional allegations under the NDPS Act. This legislation is a strict law in India aimed at combating substance abuse and trafficking. By testing positive for drug use, Hanumanthu not only worsened his legal troubles but also further tarnished his reputation. The addition of drug-related charges initiates an important discourse about the effects of substance use among influencers and celebrities. Many young individuals look up to figures like Hanumanthu, and such disclosures can have significant consequences on their perceptions and behaviors. The fallout from his actions extends beyond legal issues; it also encompasses the ethical obligations that accompany public visibility. Reactions from the Public and Consequences The public’s reaction to Hanumanthu's arrest has been varied. Many viewers voiced their outrage over both his initial remarks and his later substance use. Social media has been inundated with discussions, memes, and criticisms, illustrating the swift spread of information and opinions in today’s digital environment. Critics contend that individuals like Hanumanthu should be held accountable for their influence, particularly when it concerns endorsing a healthy lifestyle and responsible behavior. On the other hand, some supporters have rallied behind him, advocating for the necessity of empathy and understanding. They highlight the pressures that accompany being a public figure, especially in a hyper-connected world where every action is scrutinized. This divide in public sentiment mirrors a broader societal conversation about celebrity culture, accountability, and the intricacies of mental health and substance use. The Wider Picture of Substance Abuse Hanumanthu's situation is also part of a larger discourse regarding drug abuse in India, especially among the youth. As discussions about mental health and substance use become more widespread, incidents like this underscore the pressing need for awareness and education about addiction and its root causes. The stigma surrounding drug use often hampers open dialogue about the topic, leaving many to endure in silence. Moreover, the legal implications of the NDPS Act spark questions about how society addresses drug-related offenses. While the act aims to deter substance abuse, critics argue that such laws can disproportionately impact certain demographics and do not tackle the underlying causes of addiction. Conversations around harm reduction, rehabilitation, and public health strategies are increasingly relevant within the framework of these laws. Prospects Ahead for Hanumanthu As Hanumanthu navigates the forthcoming legal hurdles, his future remains unpredictable. He faces possible legal repercussions for both his unsatisfactory comments and his substance use, which could greatly affect his career and personal life. The scenario serves as a cautionary example for content creators about the consequences of their expressions and actions, highlighting the need for thoughtful engagement with their audience.…
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