VOA标准英语2013--Falling Rupee Adds to India’s Economic Woes

 

Falling Rupee Adds to India’s Economic Woes¹

New Delhi resident Jaskaran Lamba knew pursuing a Masters in Public Administration at Columbia University in New York would be expensive.

What he did not count on was a 13 percent drop in the rupee’s value in just two months to reach a record low of 60 against the U.S. dollar.

The additional financial burden has made him second guess whether starting the two year program in September will be worth it.

“The fact remains² that I am going to pay $100,000 and if that $100,000 means a difference of five rupees, that’s straight five lakhs [500,000 rupees or $8,500]. Even if I take a loan or my parents are funding me, that’s a difference of five lakhs to them or to me from my savings,” Lamba stated.

He is not alone. Effects of the rupee’s depreciation³ will spread across much of the Indian economy, with most people eventually feeling the pinch.

Not only will imports, such as electronics and auto⁴ parts, be more expensive - but fuel costs will likely also go up.  India is the world’s fourth largest importer of oil - relying on imports for 80 percent of its crude needs.

Rising fuel prices means higher transportation costs that will hit consumers already dealing⁵ with high food inflation.

India is not alone in seeing its currency depreciate⁶ - other emerging markets like Brazil and South Africa have also been affected⁷ by the strengthening of the dollar. But economists⁸ here say the rupee was already under pressure from a high fiscal⁹ deficit¹⁰, untamable inflation and a lack of foreign direct investment.

The falling rupee could help Indian exports by making them cheaper. But N. R. Bhanamurthy with the New Delhi-based National Institute of Public Finance and Policy said that is likely not enough to overcome many of the challenges that foreign companies face doing business in India.

 “I think it’s very important for the government to bring in more growth-oriented policies so that you attract more investment. In fact, you can control the domestic capital going out. For the last two to three months, there is a trend that domestic capital is going out,” said Bhanamurthy.

Whether it was dealing with bureaucracy or bribes¹¹, Anant Dehadrai saw firsthand the hurdles¹² foreign companies face as a former head of a Japanese firm in India and now an investor¹³ in India’s health system. “If I have an opportunity to be in India or somewhere else, I would rather go somewhere else," Dehadrai stated. "Where it’s so much easier to do business. At the end of the day, I want to optimize¹⁴ my profits. Why should I come here?”

With two children living abroad, including a son who just finished law school in the United States, Dehadrai is acutely aware of the effect of the rupee’s depreciation.

He remembers paying 40 rupees against the dollar and hopes those days and that of India’s economic prosperity are not a thing of the past. 

1 woes   

困境( woe的名词复数 )； 悲伤； 我好苦哇； 某人就要倒霉

参考例句：

• Thanks for listening to my woes. 谢谢您听我诉说不幸的遭遇。
• She has cried the blues about its financial woes. 对于经济的困难她叫苦不迭。

2 remains   

n.剩余物，残留物；遗体，遗迹

参考例句：

• He ate the remains of food hungrily.他狼吞虎咽地吃剩余的食物。
• The remains of the meal were fed to the dog.残羹剩饭喂狗了。

3 depreciation   

n.价值低落，贬值，蔑视，贬低

参考例句：

• She can't bear the depreciation of the enemy.她受不了敌人的蹂躏。
• They wrote off 500 for depreciation of machinery.他们注销了500镑作为机器折旧费。

4 auto   

n.(=automobile)(口语)汽车

参考例句：

• Don't park your auto here.别把你的汽车停在这儿。
• The auto industry has brought many people to Detroit.汽车工业把许多人吸引到了底特律。

5 dealing   

n.经商方法，待人态度

参考例句：

• This store has an excellent reputation for fair dealing.该商店因买卖公道而享有极高的声誉。
• His fair dealing earned our confidence.他的诚实的行为获得我们的信任。

6 depreciate   

v.降价，贬值，折旧

参考例句：

• The computer value will depreciate by $ 500 in the first year.在头一年里这台电脑会贬值500美元。
• If you neglect this property,it will depreciate.如果你忽视这份资产，它无形中就贬值了。

7 affected   

adj.不自然的，假装的

参考例句：

• She showed an affected interest in our subject.她假装对我们的课题感到兴趣。
• His manners are affected.他的态度不自然。

8 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

9 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

10 deficit   

n.亏空，亏损；赤字，逆差

参考例句：

• The directors have reported a deficit of 2.5 million dollars.董事们报告赤字为250万美元。
• We have a great deficit this year.我们今年有很大亏损。

11 bribes   

n.贿赂( bribe的名词复数 )；向（某人）行贿，贿赂v.贿赂( bribe的第三人称单数 )；向（某人）行贿，贿赂

参考例句：

• It was alleged that he had taken bribes while in office. 他被指称在任时收受贿赂。
• corrupt officials accepting bribes 接受贿赂的贪官污吏

12 hurdles   

n.障碍( hurdle的名词复数 )；跳栏；（供人或马跳跃的）栏架；跨栏赛

参考例句：

• In starting a new company, many hurdles must be crossed. 刚开办一个公司时，必须克服许多障碍。 来自《简明英汉词典》
• There are several hurdles to be got over in this project. 在这项工程中有一些困难要克服。 来自辞典例句

13 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

14 optimize   

v.使优化 [=optimise]

参考例句：

• We should optimize the composition of the Standing Committees.优化人大常委会组成人员的结构。
• We should optimize our import mix and focus on bringing in advanced technology and key equipment.优化进口结构，着重引进先进技术和关键设备。