Here are four significant economic distortions that India must sort out to shield its economy

This would also help reduce the current account deficit by reducing imports and increasing exports. However, if perverse expectations prevail, the dollar premium may persist. Sajjid Chinoy has suggested that RBI should buy dollars, even at a premium, to augment forex reserves (Indian Express, 25 May). This could, hopefully, kill perverse expectations and arrest rupee depreciation.