India

Indian media: Concerns over rupee's fall

  • 27 June 2013
  • From the section India
The value of the Indian rupee has seen a sharp decline in the past few weeks

Media in India are expressing concerns over the sharp decline in the value of the rupee against the US dollar.

On Wednesday, the rupee touched a "historic low" of 60.72 against the dollar, sparking worries of rise in the prices of essential commodities.

The Hindustan Times says the depreciation "is threatening to blow a bigger hole in household budgets and dashing hopes that the Reserve Bank of India will make loans cheaper".

"Over 11% fall in two months is extremely alarming which, in turn, pushes up the prices of commodities, especially oil and coal," The Hindu quotes financial analyst KN Dey as saying.

The Pioneer feels the sharp fall "clearly indicates tough days ahead for the economy and the common man alike".

And The Times of India says the "feeble rupee" would "severely hurt those planning to travel or study abroad".

Meanwhile, newspapers fear a serious outbreak of diseases in the flood-hit areas of Uttarakhand.

"The delay in disposing of the bodies and the lack of sanitation are bound to lead to a surge in diseases which will claim more lives," warns the Hindustan Times.

The Pioneer reports that the floods have caused massive destructions to the national parks and wildlife sanctuaries in the Himalayan state.

Newspapers and websites are also giving prominent coverage to the Indian air force's tribute to the armed forces personnel who died when a rescue helicopter crashed on Tuesday.

"You all have done us proud, for you gave your life in service of your countrymen without discretion of colour, cast, creed and religion - more importantly, in their hour of need. You are now a guiding beacon in our deeds," the NDTV website quotes from an air force statement.

The Kashmir train

Newspapers have welcomed the start of a train service which connects the Kashmir Valley with the southern Jammu region of Indian-administered Kashmir.

The Tribune praises PM Manmohan Singh's strategy of tackling "the challenge of terrorism with development".

"Efforts to bridge the distance between Srinagar (the capital of Indian-administered Kashmir) and Delhi" should continue despite the "trust deficit" in the state, it says.

The Deccan Herald also praises Mr Singh's offer to hold talks with those who are willing to shun violence.

The Kashmir Times, however, feels that "as long as there is dissatisfaction and disaffection at the political and emotional levels, things are not going to change via the administrative or developmental route. This formulation has been tried and found to be a failure under all shades of patronised politics".

Moving on to some technology news, India is ready to launch its own navigation satellite system, reports The Hindu.

"Like the US Global Positioning System, the Indian satellites will transmit data to suitably equipped receivers to establish their location. The first satellite is scheduled to go into space on 1 July," the paper adds.

In sports, a group of 18 rural girls from the eastern Indian state of Jharkhand are getting ready to participate in the Donosti Cup football tournament in Spain from 1 July to 6 July, The Times of India reports.

The girls will represent Yuwa-India (young India), a non-governmental organisation, in the tournament which will host over 400 teams from 30 countries, the paper adds.

And finally, The Economic Times reports that online matrimony portals are adopting innovative steps to help couples live a happy married life since they fear that the rising number of divorces across urban India could "threaten their businesses".

Shaadi.com, one of the leading matrimonial websites, has launched a series of online campaigns and counselling services to deal with the rising number of break-ups, the paper adds.

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