INDIAN ECON, POLITICS, SOCIETY + BTC PRICE

[pawanjain]

This is definitely a forced implementation with a false premise. The common man who dreams of owning a second hand petrol car is left without a choice, he must either spend more money at mechanical shops or let go of his dream. When entering the voting booth, people need to remember this. That is the true power of democracy, rather than blindly swallowing every utopian dream politicians sell.   

It is not the dreams politicians sell that people are swallowing but the freebies that politicians are throwing on people.
For a mere 5000 rupees, people will forget all the suffering they get and go vote for those politicians.
They don't acknowledge the fact that these politicians will recover more than what they have invested in freebies one or the other way around after the election.

[Clement Kaliyar]

~
There was a time when, if the price of petrol or diesel increased by 50 paisa, there would be a massive strike against the government. Nowadays, nobody cares, because the government knows how to play with public psychology.

It is simple, if you want people to forget the issue, then introduce them a bigger issue which is the strategy followed by every government in the world.

Per capita income has increased, and public transport infrastructure has been improved significantly. Opposition is dead, and other issues are stopping people from coming out and voice the increase in petrol prices and on E20. I know only one thing: no one will suffer more than the middle class in this country. Already, the population is in decline and in a non-replacable number of particular religion. Whatever can be squeezed from the middle class, the government will do it asap.

It is true that the per capita income has increased, but there is a big illusion that politicians are selling when it comes to per capita income increase.

To simplify things for everyone to understand, per capita income is a simple calculation, total national income ÷ total population.

Total number of billionaires have increased in the past decade. The elite are making money and it will be calculated in the total national income. What about the common hard working class and the middle class. Almost half of the population is above the poverty line and not reached the middle class barrier.

These are facts that is available in the public domain published by the government. When you live in a country where the average monthly income of around 50 crore people is below $150 and if someone boast about the increase in per capita income, what should we say.

Check your own bank balance and you will understand, whether you are able to save like you did a decade or two decades ago.

[Bitcoin Smith]

~
These are facts that is available in the public domain published by the government. When you live in a country where the average monthly income of around 50 crore people is below $150 and if someone boast about the increase in per capita income, what should we say.

Check your own bank balance and you will understand, whether you are able to save like you did a decade or two decades ago.

Last time I checked we even fell below Bangladesh in per capita and now we are in the range of African nations that is not good. And as you said even the per capita income is not the actual representation of growth but these politicians use this for their sake. Median income is what we should be looking at and it is around 12K, which means more than 70 crore people earn 12K per month and even worse, our government considers anyone who is making a hundred rupee is above the poverty line.

Change in the election result is not going to change that, if we want a change then we need new ideology but I doubt we will have such one party for the next 20-30 years.

[Cointikka]

It is true that the per capita income has increased, but there is a big illusion that politicians are selling when it comes to per capita income increase.

Total number of billionaires have increased in the past decade. The elite are making money and it will be calculated in the total national income. What about the common hard working class and the middle class. Almost half of the population is above the poverty line and not reached the middle class barrier.

These are facts that is available in the public domain published by the government. When you live in a country where the average monthly income of around 50 crore people is below $150 and if someone boast about the increase in per capita income, what should we say.

Check your own bank balance and you will understand, whether you are able to save like you did a decade or two decades ago.

I do not know about your bank balance status, but I am happy with what I am earning. My salary has increased significantly in the last 10 years, and so have my friends and family members. 10 years ago, it was a struggle to complete 30 days of a month with the salary that I was drawing after working 9 hours a day. I do not know which state you live in, but in my state and the district I am living in, the development has been incredible over the past 2 decades. The standard of living has gone up significantly. Even a cart owner selling tea and coffee or an autorikshaw driver makes good money to lead a good life.

The income disparity between the states within India was there, but I was not aware that it was so high in some states. My only issue is with the flex fuel and not the rise in fuel prices or the gas prices.

Last time I checked we even fell below Bangladesh in per capita and now we are in the range of African nations that is not good. And as you said even the per capita income is not the actual representation of growth but these politicians use this for their sake. Median income is what we should be looking at and it is around 12K, which means more than 70 crore people earn 12K per month and even worse, our government considers anyone who is making a hundred rupee is above the poverty line.

Change in the election result is not going to change that, if we want a change then we need new ideology but I doubt we will have such one party for the next 20-30 years.

Bangladesh's figures were wrong because the country has an IMF loan. Those were fudged figures published in a left-leaning global website. BTW... they have again approached the IMF for another loan due to rising global crude prices. The minimum salary of a car driver is between 15K and 30K, depending on the number of hours they work. Even a Blinkit partner earns more than 12K if he/she works 12 hours a day. Blinkit pays the least fee to partners, as they do not travel more than a KM or 2.

[Bitcoin Smith]

~
The minimum salary of a car driver is between 15K and 30K, depending on the number of hours they work. Even a Blinkit partner earns more than 12K if he/she works 12 hours a day. Blinkit pays the least fee to partners, as they do not travel more than a KM or 2.

The numbers don't speak the real truth of what's changed and whether it is positive or negative.

Let me give you the clear perspective, a driver made 10 to 15K 10 years back and now the value is doubled but we need to look at the price of gold, it is almost tripled or even higher, the rent of houses increased a lot and price of everything so even if the salary is doubled we are living the same standard of living or even worse than before.

[Cointikka]

Let me give you the clear perspective, a driver made 10 to 15K 10 years back and now the value is doubled but we need to look at the price of gold, it is almost tripled or even higher, the rent of houses increased a lot and price of everything so even if the salary is doubled we are living the same standard of living or even worse than before.

Just look at the car and two-wheeler market in India currently and check what it was 10 years back. Regardless of flex fuel E20 being made compulsory by the government, the purchase of new cars and bikes has increased. 10 years back SUV were termed as luxury items, now they are not. The same goes for the high-end mobile phones. Now, anyone can purchase an iPhone. Due to an increase in the purchase of Gold in India at the time of war in the Middle East, the government had to stop imports, and the PM had to announce that, unless necessary, do not purchase Gold. I have friends who are farmers; they tell me how much subsidy they are now getting compared to what it was 10 years back. Things have changed a lot.

[pawanjain]

Just look at the car and two-wheeler market in India currently and check what it was 10 years back. Regardless of flex fuel E20 being made compulsory by the government, the purchase of new cars and bikes has increased. 10 years back SUV were termed as luxury items, now they are not. The same goes for the high-end mobile phones. Now, anyone can purchase an iPhone. Due to an increase in the purchase of Gold in India at the time of war in the Middle East, the government had to stop imports, and the PM had to announce that, unless necessary, do not purchase Gold. I have friends who are farmers; they tell me how much subsidy they are now getting compared to what it was 10 years back. Things have changed a lot.

Talking about iphones, most of the iphones bought in India are purchased through EMI option.
There are very few people who pay full price upfront and buy that phone.
So all those flexing their iphones are dependent on their monthly salaries for their next EMI to pay for their iphones.

[Bitcoin Smith]

Let me give you the clear perspective, a driver made 10 to 15K 10 years back and now the value is doubled but we need to look at the price of gold, it is almost tripled or even higher, the rent of houses increased a lot and price of everything so even if the salary is doubled we are living the same standard of living or even worse than before.

Just look at the car and two-wheeler market in India currently and check what it was 10 years back. Regardless of flex fuel E20 being made compulsory by the government, the purchase of new cars and bikes has increased. 10 years back SUV were termed as luxury items, now they are not. The same goes for the high-end mobile phones. Now, anyone can purchase an iPhone. Due to an increase in the purchase of Gold in India at the time of war in the Middle East, the government had to stop imports, and the PM had to announce that, unless necessary, do not purchase Gold. I have friends who are farmers; they tell me how much subsidy they are now getting compared to what it was 10 years back. Things have changed a lot.

We are consuming more than ever, and there are all kinds of class available in our country, which I also agree and increase in the number of cars is not really development, it's just a part of rat race.

Do you think what percentage of car owners can afford their emi after a year? Maybe they are forced to pay because of pride and many other things that we believe having a car is a pride status and getting loan is easier than ever so they are buying cars and Iphones with zero down payment and paying a 30-50% as emi.

[eaLiTy]

~
It is not the dreams politicians sell that people are swallowing but the freebies that politicians are throwing on people.
For a mere 5000 rupees, people will forget all the suffering they get and go vote for those politicians.
They don't acknowledge the fact that these politicians will recover more than what they have invested in freebies one or the other way around after the election.

This is true. I know for a fact that there are politicians who pay money for votes. They hand out ₹2000 per individual, and the mindset of people who receive this money is that, we are not going to get anything when they get into power, at least we deserve this.

It is impossible to get rid of this mindset when you see people struggling to get by in life, and they will accept every handout.

~
The income disparity between the states within India was there, but I was not aware that it was so high in some states. My only issue is with the flex fuel and not the rise in fuel prices or the gas prices.

I am not sure whether you are really aware of the fact that the price of petrol was around ₹50 and diesel around ₹35, when crude oil prices hit $147. Even when the price of crude drops to $28, the general population does not get the advantage, instead the companies make a profit and the government gets its tax. What a wonderful world we live in and on top of that, the adulterated petrol we get now in the name of policy changes.

Even a Blinkit partner earns more than 12K if he/she works 12 hours a day. Blinkit pays the least fee to partners, as they do not travel more than a KM or 2.

If someone is working a job that pays just ₹33 an hour, their life situation will be really bad. Imagine the struggles he might be going through, because he is not in a position to secure a decent job. There is nothing to boast about here, unless you are a politician who twists the facts to score political points against your political opponent. We are not politicians here, we can talk about the harsh reality.

Due to an increase in the purchase of Gold in India at the time of war in the Middle East, the government had to stop imports, and the PM had to announce that, unless necessary, do not purchase Gold. I have friends who are farmers; they tell me how much subsidy they are now getting compared to what it was 10 years back. Things have changed a lot.

The government did not stop the import of gold, they just increased the import taxes on gold. As a farmer, I know there are subsides for certain things, but the price of poultry feed has increased multiple times over, when fuel prices went up recently, it caused a ₹60 increase on a single 20 kg bag, imagine the impact it had on other sectors.

 

[Cointikka]

I am not sure whether you are really aware of the fact that the price of petrol was around ₹50 and diesel around ₹35, when crude oil prices hit $147. Even when the price of crude drops to $28, the general population does not get the advantage, instead the companies make a profit and the government gets its tax. What a wonderful world we live in and on top of that, the adulterated petrol we get now in the name of policy changes.

The increase in price of petrol, diesel, and gas has happened everywhere. It is not just India; even the price increase happened in the US & China. Do you think other countries reduce prices when crude prices fall globally? After they have increased it in the local market. I doubt that.

The government did not stop the import of gold, they just increased the import taxes on gold. As a farmer, I know there are subsides for certain things, but the price of poultry feed has increased multiple times over, when fuel prices went up recently, it caused a ₹60 increase on a single 20 kg bag, imagine the impact it had on other sectors.

I am not denying that it will not hurt the inflation. It will surely do. It still did not affect the consumption of poultry products. People are still consuming it because they can afford it. This proves my point earlier that a change in the lifestyle of Indians has happened, and that is why no one is coming out and voicing it. Recently saw LLA channel placing concern over the E20 fuel mandate. One channel has the balls to question the government, whereas all other channels that are in automobile niche are silent.

[TheUltraElite]

I understand savings is difficult and this is very much evident if your income status is also less than <50k Rupees/month. The people who are suffering are the middle class but I dont see any solution to this right away.

You can think about putting effort to improve your skill-set and applying for the higher paying posts or change your job but I know this is unreasonable for most people. Cost cutting is another thing which cannot be done beyond a certain level.

How many of you are currently using gift cards regularly for daily necessities?