Billion Indians have no money to spend
The country's central bank has also cracked down on easy unsecured lending that propped up demand after the Covid pandemic.
Much of the consumption spending of the "emerging" or "aspirant" class of Indians was led by such borrowing and "turning off that tap will definitely have some impact on consumption", says Pai.
In the short run, two things are expected to help boost spending - a pick-up in rural demand on the back of a record harvest and a $12 billion tax give-away in the recently concluded budget. It will not be "dramatic" but could boost India's GDP - largely driven by consumption - by over half a percent
India's middle class - which has been a major engine for consumer demand - is being squeezed out, with wages pretty much staying flat, according to data compiled by Marcellus Investment Managers.
"The middle 50% of India's tax-paying population has seen its income stagnate in absolute terms over the past decade. This implies a halving of income in real terms [adjusted for inflation]," says the report, published in January.
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And on top of that they say inflation is 6-7%. Most of the daily consumption products have increased almost 2x of the numbers given by the govt. People fighting who's the best politician, making fun of each other. Truth is all are corrupt.
inflation data is yet another BS they feed us.
Roti at a nearby hotel in Jan 2020 was 45 rs. Today its 75. In my village a dosa that was 50rs just 6 months back, is 65 today. The room cooler that i bought in 2021 was 8K, today is 12K
School fees has gone up by 50% in the last 3 years. i pay 60K per year just for the school bus.
Data in India is absolute BS.
80CR indian cannot afford to eat so we have to feed them for free.
8cr. india have to be given jobs under MNREGA becuase they cannot find employment. we need to provide reservation from cradle to grave because entire country consist of only oppressed population. we need to provide farmers with free electricity, land, water and tax free because 80% of india is agri population and every farmer is struggling. But we export rice for 80 Billion/year. just rice. punjab and haryana have high per capita income and number of cars because they are all poor farmers
poor beneficiaries will sell land and pay 50L to agents for donkey route to US.
Real estate prices in india are now on par with Uk and US. because 1% of the population earn enough money to pay income tax and they buy all the house in the country
The sad part is that the Hindi news channel will not show this news...it's not breaking news for them in the BJP era...they're busy worshiping modi-yogi.....If there were a Congress govt these news channels would become the main opposition.....
The government can relax because most of the ppl at the grassroot level don't know english.... So why do they care?