In this latest episode of MKV’s 360 Degrees, eminent economist and former vice chancellor of Gokhale Institute of Politics and Economics Ajit Ranade speaks with The Wire’s founding editor M.K. Venu about the state the Indian economy. Ranade says it is perverse for the Reserve Bank of India (RBI) to convert a weakening rupee into a fiscal bonanza for the Centre. This is not sustainable as RBI's dividend transfer from a falling rupee is now 8% of the Centre's revenue.

The Wire is now on WhatsApp. Follow our channel for sharp analysis and opinions on the latest developments.