Rupee is heading for its real value and it seems to be reaching faster then it is acceptable for all literally giving no time for anyone to adjust to the fall.
Govt is prolifically giving subsidies to the poorest of the country through RTE and RTF(Food Bill) in the process making many more people poor and near poor. RTF passed without infrastructure to distribute the food grains to pass on them to the poor, looks like it will meet the similar fate of RTE.
The cons of the rupee fall will be positive for exports of garments, agri products, and some local products which do not require imported materials. Even software will be positive as rupee sales will be higher. The imports of discretionary items like fruits, agri products and mobiles will be reduced as their cost will get out of reach of the middle class and increase losses for already shaky corporate sector.
Worst hit will corporates who have taken loans as their rupee quantum of loans will jump by quite a few crores due to this. The CAD will be better then being then being anticipated as the rupee fall has quite a few positives but the negative one is the inflation or price raises that are going to happen in the coming months will break the back of the middle class resulting in slower growth of the economy.
The worst seems have just begun it is not in the middle or the end.