There will be many difficulties when the dollar and Rupee becomes equal

 

1 Rupee = 1 Dollar should be not

In 1947, when India
emerged as an independent country freed from British rule, 1 rupee was
literally equal to 1 US dollar. Since then, the Indian rupee has become weaker
than the American dollar. There are both advantages and disadvantages when the
US dollar and Indian currency become equal. Rather, the disadvantages outweigh
the advantages. So 1 rupee = 1 dollar is never desirable in a developing
country like India.

Anyway first let's talk
about what will be the benefits if dollar and currency become equal: -

1) Prices of daily necessities and various luxury items will
decrease. Let's take as an example, if rupees and dollars are of equal value,
the iPhone will be available for only 600 rupees. This is because the price of
iPhone in America starts from 600 dollars.

2) Imports from abroad will be easier in India if money is valued.
More goods can be imported into India from abroad at a cheaper rate. As a
result, the price of goods in the Indian market will decrease.

3) By reducing the price of petrol and diesel, the cost of
transportation will also be reduced considerably.

4) Holidays abroad can be spent in just a few thousand rupees.

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Names of major departments of ISRO and where are their offices located

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Now let's talk about
what will be the problem if the dollar and currency become equal: -

1) India's export costs will increase. Products produced in India
will cost much more in other countries. As a result, it will cost more to
export it abroad.

2) Many foreign companies will leave form India. Because, cheap
labor is one of the main objectives of trade from abroad to India. Inexpensive
workers can be found in this country. Hence the cost of trade in India is lower
than many other countries.

3) The IT sector accounts for 27 % of India's employment. This
will reduce foreign investment in the IT sector. The salary of workers in India
will be equal to that of American workers. No company will agree to spend 75
thousand rupees in India for labor which is available for approximately 3
thousand rupees in backward countries.

In simple words - the
government aims to strengthen the currency of countries whose economy depends
on imports. Because, when the currency is strong, things can be bought cheaply
from abroad. And in countries whose economic infrastructure rests on exports,
the government of that country wants to keep the currency weak. If the currency
is weak, it is possible to earn more money by exporting goods from the country.
However, comparing the statistics of import and export in India, it is seen
that the amount of goods bought from abroad is more in India than the goods
sold abroad. As a result, the stronger the Indian currency, the more the
country will benefit.