1 USD = 1 INR ! We all know that the value of 1 dollar is Rs.69 in our country today. Just as one rupee is worth in our India, in the same way, the price of 1 dollar in the outside country ie US is the same. But the only difference is that we cannot buy anything by paying 1 rupee in India, its value is not at all, but the price of 1 dollar is a lot in the US, people can buy food and drink for themselves in that much money. In such a situation, every citizen of our country would like that the price of 1 rupee should be as much as 1 dollar, but if it really happens then what will happen? On this today I am going to tell that When 1 rupee is 1 dollar Then what will be its effect in India?
Let’s say that sometime such a miracle happened that if the price of 1 rupee becomes as much as 1 dollar then what will happen? If this happens, then our country will become rich, poverty will be eradicated, no person will ever sleep hungry and no one will have any shortage of money. How nice to hear this, doesn’t it? But will it really happen when the price of 1 rupee will be as much as 1 dollar. Just like every coin has two sides, similarly the answer to this question also has two sides. If the price of 1 rupee becomes as much as 1 dollar, then we will have profit and loss as well. First of all we know what will be the benefits.
If 1 Rupee = 1 Dollar, then what will be the benefit?
1) The first benefit that we all will have is that we will get all the goods in India at cheaper prices than now because in our country more percentage of the goods which we use in our daily life come from outside countries and 1 If the value of rupee becomes as much as 1 dollar, then for whatever goods we buy from outside countries, the Indian government will have to pay less. Which means that if the government buys those goods at a lower price, then those goods will also sell us at a lower price. And this will also reduce the inflation in our country.
2) We can also buy branded things at cheap prices, such as the iPhone which sells at the highest price in our country, we will be able to buy it for only 600 rupees. Because its price in the US is 600 dollars and if 1 rupee=1 dollar If done, we will be able to get an iPhone for just Rs.600.
3) Like I have already said that many things in India are bought from outside country, one of them is petrol which is brought from outside country. So if 1 rupee =1 dollar If this happens, then imports will become cheaper and petrol will also be available to us at cheap prices. Due to cheap petrol, the cost of transportation will also be reduced. We will be able to take as many things as we want from outside the country and there will be no shortage of anything in our country.
1 rupee = 1 dollar Because of this, we will get all these benefits, that’s all we all want – the inflation should be reduced, all the comforts should be available that too in less money. Seeing all these benefits, everyone would like that the price of 1 rupee should be as much as 1 dollar.
4) If this happens then the import prices will become very cheap, consequently the petrol prices will also become very cheap, which leads to cheap transportation of cost of goods throughout the country.
But wait! I have told this only about the benefits, it is yet to know about the disadvantages. So let’s know about the damage caused by this.
If 1 Rupee = 1 Dollar, then what will be the loss?
1) Just as we buy some things from outside country, similarly some things from our country are also sold to outside country. if 1 rupee = 1 US dollar If it happens, then the same things that we sell to the outside country will prove to be expensive for them. So why would any foreign country buy goods from our country by paying more money? He would like to take the same things from another country where those things can be found in lesser prices than our country. For this reason, exporting will stop in our country.
In such a situation, many people think that why do we need to buy goods from other countries? We will use indigenous things which are made only in our country. Even by doing this, we will not get any benefit because if we do not buy goods from outside countries, then foreign countries will also not buy goods from us, due to which our country will never progress. We will stay where we are.
2) Foreign investment in our country will stop. One of the main reasons why foreign countries invest in our country is that here they do not have to pay much labor cost and they get employees working for less money. but if 1 INR = 1 USD If it happens, foreign countries will stop investing in our country because the labor cost will be high and they will think better to take the decision to invest in other countries.
Foreign investment Most of our country’s IT and service sector and 60% of our country’s GDP is contributed by these sectors and 27% of the population of our country also get employment from these sectors, which will be completely closed because foreign country is our country. Will stop investing in For example, suppose a good Indian engineer is getting salary of Rs 75000 in a month to work and as much as a promising engineer boy is getting salary of $ 3000 in a month for doing the same work in a foreign country. so 1 USD = 1 INR According to this, the salary of an Indian engineer will be $ 75000 per month, then why would any foreign country give that much money to the engineer of our country, when he will keep the engineer of his own country for his company by paying only $ 3000.
3) In our country, instead of keeping a maid for household chores, people will start keeping machines because the amount of money we give to a maid for working, as if we give 4000 rupees, which at that time this amount is equal to 4000 dollars. If it happens, then we can buy machines for less than that, which we will get in just 1000 dollars.
Due to all these reasons people will stop getting jobs and unemployment will increase a lot in our country.
4) Reduction in tourism :-
If the value of the dollar will increase, then the tourists will also reduce their arrival. Because where earlier they used to find India cheap but now it will start looking costly.
5) There will be a reduction in TAXES :-
Because foreign companies will bring their setup out of here. They will also start withdrawing their investments, which is going to have a bad effect on the tax of our government. This is because if there is no production, then there will be no tax, due to which the government will not get any money.
Service sector contributes up to 60% of our GDP and provides employment up to 27% in India. In such a situation, if 1 dollar becomes equal with 1 INR, then the investment which used to be in IT sector and service sector will stop immediately. Now when 1USD = 1INR then why a company will pay USD 75,000 or Rs.75,000 per month to an employee when that employee can pay USD 3000 or Rs.3000 for the same work. Due to this people will eventually lose their jobs and unemployment will increase.
When money will not come to our country, then it will show economic slowdown in our country. Job outsourcing will be completely closed in India.
Companies which are currently in India will then start moving out of India because they will not be profitable for them. A similar situation happened in India in 2007-08 when the dollar was around Rs.40, but then the imports were very good. But at the same time BPO and IT Sectors suffered a lot.
What superstition do people have about 1 Rupees = 1 Dollar?
Often people think that if 1$ = Rs.75 then US economy is 75 × stronger (times) than us, but this is not true in reality.
Understand one thing that if the value of currency of a country is high, then it does not mean that the economy of that country is equally strong. For example, if we talk about our neighboring country Bangladesh, their value of 1 BDT is equal to 1.4 Yen. Then the economy of Bangladesh should be stronger than that of Japan. But in reality it is exactly the opposite.
by the way RBI It is not so much worried about dollars and rupees, it is justified to be above and below it. By the way, too much fluctuation is not a good thing for any economy.
Sun 1947 In 1 Dollar = 1 ruppes, it means that our productivity was low at that time as compared to US and also inflation was very high.
Indian currency cannot change in one night, but for this we have to increase our productivity and production as well.
One thing we all have to believe that 1 Rupee = 1 USD Not affordable for any developing or growing country.
So friends, we learned about the advantages and disadvantages of being here, from which we know that if 1 rupee 1 dollar If it becomes like this, then our country will never progress and we will suffer more than profit in it. It has always been my endeavor that the readers 1 Dollar= 1 ruppes will be same Then complete information should be provided about what will happen so that they can be seen on any other sites or There is no need to search in the context of that article in the internet. This will also save their time and they will also get all the information in one place. If you have any doubts about this article or you want that there should be some improvement in it, then you can write low comments for this. If you got this post if 1 Rupee = 1 Dollar, then what will be its effect in India? If you liked or got to learn something, then please share this post on Social Networks such as Share on Facebook, Google+ and Twitter etc.