Mehrotra warns rupee may hit 100 soon as India taxes gold and fuel instead of super rich

Published on 16 May 2026

Rupee could reach 100 in just one quarter

Former UN advisor and economist Santosh Mehrotra says India’s tax approach is worsening inflation and jobs. He argues the government should target super-rich and high-net-worth individuals with surcharges instead of raising regressive indirect taxes on fuel and gold duties. With tensions in West Asia escalating, Mehrotra warns the rupee could slide to ₹100 per US dollar within a quarter. He also cautions crude oil could exceed $150, stressing MSMEs and triggering worker reverse migration.

Mehrotra urges surcharges on super-rich and HNIs, not higher indirect taxes
He says fuel and gold duties are fueling inflation and job losses
He warns the rupee could reach ₹100 per $ within a quarter
Geopolitical risks could lift crude prices beyond $150 per barrel
Supply disruptions are already hitting MSMEs and labor-intensive sectors

#tax policy #inflation #rupee #crude oil #geopolitical tensions

Read the full story at The Economic Times

This summarization was done by Beige for a story published on The Economic Times

Mehrotra warns rupee may hit 100 soon as India taxes gold and fuel instead of super rich

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