Inflation and Poverty
Recently Bharat won world cup. I had a comparison.
We have also won it in 1983. The total prizes won by team were Rs.1.33 Million (13 lakh 30 Thousand)
In 2011 after 28 years it is more than 100 times that Rs.145 million (14 Crore 50 lakh)
When I asked my mother, she answered that 28 years back the value of 13.3 lakhs was same as 14.5 crores.
I see many people recounting that they have eaten a particular dish at 10 Paise!
So the important question that I want to ask you is
1.What are the probable reasons of rising inflation?
2.Does it indicate an upward or progressing trend in economy?
We have also won it in 1983. The total prizes won by team were Rs.1.33 Million (13 lakh 30 Thousand)
In 2011 after 28 years it is more than 100 times that Rs.145 million (14 Crore 50 lakh)
When I asked my mother, she answered that 28 years back the value of 13.3 lakhs was same as 14.5 crores.
I see many people recounting that they have eaten a particular dish at 10 Paise!
So the important question that I want to ask you is
1.What are the probable reasons of rising inflation?
2.Does it indicate an upward or progressing trend in economy?
Replies
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narayana murthysee ishu here matter is on export or import standards of the country
see here once we had increased the value of rupee hope you know the period and time
so i am not mentioning here so if a standard of a country rises the total income increases we are thinking about value of goods but not seeing the income levels at the time getting 10 rupees is a difficult task but now it is simple
it depends on the income levels of the people as standard of living increases the costs also increases
hope i am clear
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