Sunday, January 5, 2025
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Christo-fascism threatens secularism

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Editor,
It would be dishonest to say I was surprised by the news titled “Christian consecration for first state university” (ST Jan 3, 2025). I recall a similar Christian ceremony taking place when the MDA returned to power in the 2023 elections. In fact, many problematic things have been done in the past by the majority in our state that reinforces the idea that they are against pluralism; examples of this abound unless you have your head buried deep underground. Secularism is slowly being disregarded in our state and in its place Christo-fascism―a politicized version of Christianity that seeks to enforce archaic Christian values at the expense of democracy and pluralism―reigns supreme.
This trend is alarming for many as it mirrors another form of fascism at the national level, i.e., Hindutva fascism. Both Christo-fascism at the state level and Hindutva at the national level demonstrate the ugliness of majoritarianism. While these two are similar in nature, they are actively at loggerheads with one another. As many have pointed out before, like in the article “Is the VPP the Christian version of BJP?” by A Thyrniang, the adoption of Christo-fascism will only delegitimize any complaints the Christians have against Hindutva and furthermore embolden followers of the said ideology to assert themselves. Secularism in the state will further erode as the VPP becomes more popular. Additionally, the minority religious community in the state will suffer under this majoritarianism driving its followers to embrace outside forces. In the end, economic growth will have to take a back seat as everyone is busy fiddling with communal politics.
What is more concerning is that while Hindutva has actual Hindus as some of its biggest opponents, Christo-fascism seems to be unopposed by moderate Christians. Recently, a Hindu fanatic trespassed into a Christian church and desecrated it by shouting religious slogans. Every corner of the state from politicians to NGOs and even Hindus rightfully reacted to this with severe criticisms against the lunatic. However, one struggles to find condemnations when the desecrating is being carried out by Christians. Back in 2019, a Christian fanatic clad in white, desecrated the Behdienkhlam festival in Jowai and not a single NGO or politician dared to speak out against this; in fact, many praised him on social media for being a brave soldier of the Lord. Similarly, in 2020, an MLA claimed in the assembly that it was because of homosexuals and non-obedient women that God punished the world with the Covid pandemic; he was hailed as a hero. I can go on and on. For those willing to learn, these incidents can teach you a lot about the lunacy of the people in this god-awful state!
Clearly, this is not conducive for the well-being of our state. Prosperity will only come when this madness and hypocrisy stops.
Yours etc.,
Heirtami Paswet,
Via email

Depreciation of the rupee and managing currency fluctuations

Editor,
Critiquing the UPA leadership on August 20, 2013 on the falling value of the rupee to the dollar, Narendra Modi, former Chief Minister of Gujarat stated “Crises come, but if during a crisis if the leadership is directionless, hopeless, then the crisis becomes very grave… It is our country’s misfortune that the rulers in Delhi are neither worried about the country’s defence nor about the falling value of the rupee…If they are worried, it is only about saving their chair,” It was quite a strong statement, wasn’t it? In 1991, the exchange rate of INR to USD was approximately Rs 22.74. In 1994 the rupee to the dollar was Rs 31.37 and by 2004 it was Rs 45.32, 10 years later the rupee depreciated by 44.18 percent in 2004. On 16 May, 2014, the rupee closed at Rs 58.58 per USD. Ten years later, the rupee has touched an all-time-low of Rs 85.27 per USD. It depreciated by 45.56 percent. This is 1.38% higher when compared with the depreciation rate in 2004 over 1994.
When the rupees depreciate against the dollar, it sends several important messages about the economy. A weaker rupee makes imports more expensive, which can lead to higher inflation as the cost of goods and services rises. On the flip side, a depreciated rupee can make Indian exports cheaper and more competitive in the global market, potentially boosting export revenues. The cost of servicing foreign debt increases, as more rupees are needed to pay off dollar-denominated loans. Persistent depreciation can deter foreign investors, leading to capital outflows and further weakening of the currency. It can indicate underlying economic issues such as trade deficits, inflation, or lack of investor confidence. In such situations the policy response prompts intervention from the Reserve Bank of India to stabilize the currency and manage inflation. Understanding these implications helps in grasping the broader economic impact of currency fluctuations.
Managing currency fluctuations is crucial for maintaining economic stability. Here are some of the strategies. 1. Businesses can use financial instruments like futures, options and forward contracts to hedge against currency risk. This helps lock in exchange rates and protect against adverse movements. 2. Diversifying investments and revenue streams across different currencies and markets can reduce the impact of fluctuations in any single currency. 3. Central banks can intervene in the foreign exchange market to stabilise the currency. This can involve buying or selling foreign currency reserves to influence the exchange rate. 4. Adjusting interest rates can help manage currency value. Higher interest rates can attract foreign investments, leading to an appreciation of the currency. 5. Government policies that promote economic stability and growth can also help manage currency fluctuations. This includes maintaining a healthy budget balance and reducing public debt. 6. Monitoring economic indicators such as inflation, trade balance, and foreign exchange reserves can provide insights into potential currency movements and help in making informed decisions. 7. Implementing robust risk management practices within businesses can help mitigate the impact of currency fluctuations. This includes setting up contingency plans and regularly reviewing financial strategies. By employing these strategies, businesses and governments can better manage the risks associated with currency fluctuations and maintain economic stability.
Yours etc.,
VK Lyngdoh,
Via email

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