Reader’s Voice: The Preamble to the Constitution of India declares us to be a Sovereign; a heavy word, the legitimacy of which lies in the strength and stability of the currency of our country.

The Constitution of India

Preamble

“WE, THE PEOPLE OF INDIA, HAVING SOLEMNLY RESOLVED TO constitute INDIA INTO A “SOVEREIGN SOCIALIST SECULAR DEMOCRATIC REPUBLIC” AND to secure all its citizens:

JUSTICE, social, economic and political;

LIBERTY, of thought, expression, belief, faith and worship;

EQUALITY, of status and opportunity; and to promote among them all;

FRATERNITY, assuring the dignity of individual the unity and integrity of nation;

IN OUR CONSTITUENT ASSEMBLY this twenty-sixth day of November, 1949, do HEREBY ADOPT, ENACT AND GIVE TO OURSELVES THIS CONSTITUTION.”

We claim ourselves to be a Sovereign – a self governing country with supreme power. I strongly believe that the Sovereignty of a nation depends on the strength of the value of the currency authorized and circulated by that nation.  For a strong nation, it is required to have a strong national currency and stable financial system in the country.  Whatever be the value of the currency, it should not be decreased or devalued by any chance, not even by the government of that nation because the currency is the only instrument issued by the government and circulated the nation which is used as a medium of exchange for all legal negotiations and transactions of goods, services and power of the people. The currency is the basis for all trade, negotiations, and transactions and should always be kept and dealt with dignity, strength and esteem.

Money is Power and Power is Money. If the national currency loses its value and power, then it is understood that the very foundation of the Sovereignty of that nation has been cracked and threatened and is in peril. In India, in 63 years of independence, the value of its currency has been devalued to such an extent that the people prefer to use any other currency other than their national currency for negotiations.

By Gangadharan Nair N.

Also See:
RBI – The Regulator that Failed The Indian economy
Review of Current Macro Economic Conditions In India

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