India's Debt to the World Bank is about $ 102 Billion.The Indian Rupee is being weakened by the RBI on a regular basis,reportedly,on the diktat of the IMF,to show a higher GDP figure by exports,but making Indians poorer and poorer due to transfer of wealth to the rich from the Middle Class, as exporters are rich and a Minority and the Majority Indians are poor and Middle Class and are non-exporters.
The following Table is from Wikipedia.
Year Indian₹ per US$
(average annual)
1975 9.4058
1980 7.8800
1985 12.3640
1990 17.4992
1995 32.4198
2000 44.9401
2005 44.1000
2010 45.7393
2013 58.5515
2014 61.4000
2015 64.05
The following Table is from Wikipedia.
Year Indian₹ per US$
(average annual)
1975 9.4058
1980 7.8800
1985 12.3640
1990 17.4992
1995 32.4198
2000 44.9401
2005 44.1000
2010 45.7393
2013 58.5515
2014 61.4000
2015 64.05
In 2009 India took a Loan of about $ 2,2 Billion and in 2010 about 9.30 Billion.As per the Table above,the Rupee has weakened,considerably and the loss to India may be huge,despite the "long-term" nature of the World Bank Loans.
The first link mentions that the Loans are over a period of 70 years.In 1948 or so the Rupee was 3.30 to the US Dollar.Imagine the loss India would be suffering due to World bank Loans!!!
Year | Exchange rate (INR per USD) |
---|---|
1948 | 3.30 |
1949 | 3.67 |
1950 - 1966 | 4.76[16] |
1966 | 7.50[16] |
1975 | 8.39[16] |
1980 | 7.86[17] |
1985 | 12.38[17] |
1990 | 17.01[17] |
1995 | 32.427 |
2000 | 43.50[17] |
2005 (Jan) | 43.47[17] |
2006 (Jan) | 45.19[17] |
2007 (Jan) | 39.42[17] |
2008 (October) | 48.88 |
2009 (October) | 46.37 |
2010 (22 January) | 46.21 |
2011 (April) | 44.17 |
2011 (21 September) | 48.24 |
2011 (17 November) | 55.3950 |
2012 (22 June) | 57.15[18] |
2013 (15 May) | 54.73[19] |
2013 (12 Sep) | 62.92[20] |
2014 (15 May) | 59.44[21] |
2014 (12 Sep) | 60.95[22] |
2015 (15 Apr) | 62.30[23] |
2015 (15 May) | 64.22 |
2015 (19 sep) | 65.87 |
2015(30 nov) | 66.79 |
2 comments:
Thank you for sharing such great information. It would be very informative, if can you help me in finding out more detail on MSME Loan, i am interested and would like to know more about this field and wanted to understand the basics of Banking Services.
Thanks for the comment.I think,you can get a lot of info on the subject,by doing a "search".
Regards.
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