FOLLOWING a concerted drive by the authorities against currency manipulators, smugglers and hoarders, some semblance of sanity stands restored in the exchange rate volatility, and the rising price of sugar as there has been a downward trend on both counts.
The current crackdown, however, is not something new or unprecedented.
The governments in the past ordered similar crackdowns as short-term publicity stunts. There have been instances when a large number of bureaucrats were sacked for supposedly having a bad reputation, but corruption, smuggling and black marketing have only grown exponentially.
One is, therefore, sceptical that the present crackdown will be a permanent feature to get rid of the activities that damage the economy. However, on a bit more optimistic note, we can wait and see if we can have a permanent solution to smuggling, hoarding and profiteering.
