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Significance of Manhattan central park?Significance of this place?
Matlab kuch bhi sawal karte ho yar.
Significance of Manhattan central park?Significance of this place?
As per data from China National Bureau of Statistics, the headcount ratio of poverty has reduced by 94% from 1980 to 2015 in rural China.The biggest failure of the liberalization was the failure to create a middle class with purchasing power.
What liberalization instead has done in the past 30 years is that it has created exponential growth in incomes of the well offs where as the downtrodden majority have only seen marginal increase in fortune.
Unlike China where people jumped from absolute poverty to middle class with big spending power,India has only been able to lift people from absolute poverty to a state of vulnerability(low income group) and are mostly susceptible to economic shocks.So it does not come as a surprise that India is seeing a rapid rise in poverty.
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This is bound to happen when you prioritize only niche service sectors which benefits only a miniscule amount of the population.
Walton alone is responsible for 2000$ Bangladesh per capita GDP.Has Bangladesh overtaken India in terms of nominal GDP per capita?
Even if we ignore facts presented by various organizations.Just look at consumer buying patterns,it reveals a great deal about the living standards in India.The pew research center survey data is unreliable. They claim to collect figures from povcal but their figures do not add up. Also, it is not wise to extrapolate a temporary hiccup to paint a larger picture. A lot of surveys made by them and CMIE have extremely narrow sample space. One survey just outright asked a few people whether they had lost jobs or not and then just extrapolated it. The fact that some people might have fallen into poverty cannot be denied at all; the doubts are on the actual figures which seem highly exaggerated. Already posted a detailed analysis here made by an eminent Indian economist.
Lpg prices keep increasing along with fuel costs despite jobs losses during the pandemic people who could wfh during the pandemic have there incomes even increased and are the ones who are consuming in the economy for the others with the increased taxation everywhere there is less incentive to spend moneyEven if we ignore facts presented by various organizations.Just look at consumer buying patterns,it reveals a great deal about the living standards in India.
Indian car sales has been sluggish for over a decade with sales of just around 3-4 million units.And If we dig deeper,we find most of the cars that are being sold are those 2-4 lakh tin cans.
Just go to the neighbourhood mall and inquire with the mall manager about the buying patterns,if it's possible.You will find people mostly goto malls for strolling around and not for buying anything.You will mostly find crowds outside ppdi chat/pani puri type food stalls and low end items(bangle store,heena/mehendi store).Outside major cities,you will rarely find people in branded store.
My pal works in an LPG plant of a major PSU.The plant has been running on less than half it's rated capacity for most days of the week.The distributors say there is no demand from the consumer end.This should not be the case as LPG is an essential commodity and the the number one in priority list.
its clear, most Indians including the majority of middle class do not have disposable incomes.
The ablity of not being able to buy a lpg cylinder has nothing to do with fuel price , or taxation . People who cnt buy lpg dnt care abt petrol price .. Thats middle class thing . They get their subsidised grains in time and thats enough .. Its a structural problem ..Lpg prices keep increasing along with fuel costs despite jobs losses during the pandemic people who could wfh during the pandemic have there incomes even increased and are the ones who are consuming in the economy for the others with the increased taxation everywhere there is less incentive to spend money
Zee has already turned woke.Does this mean Zee news and Wion will turn woke and pro China commies?
Ya'll Nibbiars the new Feminiest Cadbury ads was expectd seeing this BOD list.Zee has already turned woke.
Check the web series on their OTT app.
Most Indians are conservative about their expenses and more prone to savings for future. Unlike developed nations, Indians are not given to frivolous expenditure beyond their capacity. You'd hardly find people who maxed out their credit limit even once, which is pretty common in western nations. It is our sense of duty towards our family and future that we are less keen on buying useless expensive stuff. Especially when the same quality and similar fashion is found in less expensive stores.Even if we ignore facts presented by various organizations.Just look at consumer buying patterns,it reveals a great deal about the living standards in India.
Indian car sales has been sluggish for over a decade with sales of just around 3-4 million units.And If we dig deeper,we find most of the cars that are being sold are those 2-4 lakh tin cans.
Just go to the neighbourhood mall and inquire with the mall manager about the buying patterns,if it's possible.You will find people mostly goto malls for strolling around and not for buying anything.You will mostly find crowds outside ppdi chat/pani puri type food stalls and low end items(bangle store,heena/mehendi store).Outside major cities,you will rarely find people in branded store.
My pal works in an LPG plant of a major PSU.The plant has been running on less than half it's rated capacity for most days of the week.The distributors say there is no demand from the consumer end.This should not be the case as LPG is an essential commodity and the the number one in priority list.
its clear, most Indians including the majority of middle class do not have disposable incomes.
mera 101rs ka prasad ghar par pada hua haiPetrol, diesel won't be brought under GST yet, says finance minister - Times of India
India Business News: Finance minister Nirmala Sitharaman on Friday clarified that petrol and diesel price will not be brought the goods and services tax (GST) regime yet.m.timesofindia.com
Angry Indian want's us all to be consoomers.Most Indians are conservative about their expenses and more prone to savings for future. Unlike developed nations, Indians are not given to frivolous expenditure beyond their capacity. You'd hardly find people who maxed out their credit limit even once, which is pretty common in western nations. It is our sense of duty towards our family and future that we are less keen on buying useless expensive stuff. Especially when the same quality and similar fashion is found in less expensive stores.
Most of the branded goods found in the brand outlets are overpriced. Except few, most of the middle class find no point in paying for a tag rather than the actual goods.
As for Tin Can cars, the trend is shifting slowly but surely to more expensive mid-level cars. Fact is, in India parking space is a huge factor of concern in urban areas and it is the urban areas that buy the most vehicles. So, people prefer smaller cars such as sub-4 meter hatchbacks, sedans and now MUVs. The way Tata climbed the steps to 3rd position in the Indian car market shows that India is shifting toward better safety and stuff - but gradually. If petrol price ever comes under GST, the market share of Maruti will drop rapidly.
On the other hand, look at the market and look at the growth in mutual funds - it is the money that growing middle class is shifting toward their future as is norm in Indian household.
I have never filed taxes in India. So, not 100% sure. But after watching the video, it seems to me that only those who earn several lakhs per month will get effected by this taxation of PF. The guy showed calculation for someone earning 2 lakhs/mo. and the tax being deducted is not a lot, IMO.
In every capitalist contry including China wealth gap between everage joe and uber rich is way too high. This is true since first industrial revolution. People working in factories were paid almost nothing and rich land owners were living aristocratic lifestyle. This income inequality was foundation of Marxist Communist ideology where everyone was supposed to be equal.The fact that only a small number of Indians have seen a sharp rise in their fortune is an indisputable fact.
Car sales have many factors its not always about economy. In india go to any major city and tell me where is parking? I drive 2 cars and I know how difficult it is to find a parking in metro city in India. Now add traffic congestions to the mix. Also in India elderly and women mostly don't drive cars. In western countries and even in China this is not the case. Most car owners in India are urban male. The concept of a car for every member in Family doesn't exist in India yet. There are many resons like how Indians prefer to live in inner cities, close to their workplace. How suburban revolution hasn't arrived in India yet.Even if we ignore facts presented by various organizations.Just look at consumer buying patterns,it reveals a great deal about the living standards in India.
Indian car sales has been sluggish for over a decade with sales of just around 3-4 million units.
There is no car in India being sold at 2 lakh rupees. Cheapest BS6 Alto is sold at 4 lakh rupees and above. And it sales just as much as Brezza SUV which is a 11 to 12 lakh ruppe car.most of the cars that are being sold are those 2-4 lakh tin cans.
You have presented an anecdotal evidence mine is completely different.Just go to the neighbourhood mall and inquire with the mall manager about the buying patterns,if it's possible.You will find people mostly goto malls for strolling around and not for buying anything.
There is nothing wrong with that. I too prefer to go to such places. Many people in my city drive their 20 lakh ruppe SUV and burn 200 rupee of diesel just to eat 20 rupee of panipuri from a specific street vendor. IMO The taste of food from such vendors are sometimes better than 5 star restaurants.anything.You will mostly find crowds outside ppdi chat/pani puri type food stalls and low end items(bangle store,heena/mehendi store).
Again you have presented anecdotal evidence. One LPG plant owned by one PSU not working in full capacity doesn't mean economy of entire country is down.My pal works in an LPG plant of a major PSU.The plant has been running on less than half it's rated capacity for most days of the week.The distributors say there is no demand from the consumer end.This should not be the case as LPG is an essential commodity and the the number one in priority list.
I think you are trying to say discretionary income. If you saying Indian middle class don't have any disposal income that would mean gov has taxed all income and that would result in mass starvation and riots.its clear, most Indians including the majority of middle class do not have disposable incomes.
In leftist news pieces there is a bias agaist Indian economic progress. This is because they can't say India is doing better under Modi. If INC was incharge they would sing praises of how wonderful and resilient is Indian economy.What exactly is the disputable issue here ?
The fact that India has a middle class with no purchasing power is a known fact.