The country is facing a deep crisis and the Finance Minister and the Prime Minister are deeply worried. The Finance Minister has also made several road shows abroad hoping to attract FDI and FII investments which are very crucial to manage the Current Account Deficit (CAD) which had gone beyond 4%. The CAD problem is exerting a pressure on the Rupee- Dollar parity and the rupee depreciated to go beyond Rs 61 to a dollar. India is a net importer country. Our largest item of import is oil.
The second on the list is gold. Oil is something which is crucial to transportation and is the something which we cannot cut down. Maybe once Reliance after partnering with BP finds more gas we will have a cheap alternative but as of today it is the costliest and the largest item of our export bill.
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