Major squeeze in middle class
Our savings rate is at 5 decade low.
Our consumption of even essential FMCG goods has slowed down.
Two key essentials of every kitchen - wheat and oil, hugely impacted by inflation.
Households splurged post covid due to pentup demand, not with income but by borrowing, especially through personal loans and credit cards.
With no savings, high borrowings and increased cost of living- majority of households are severely suffering.
I missed this LC survey exactly right….
https://www.localcircles.com/a/press/page/household-earnings-survey more
Our consumption of even essential FMCG goods has slowed down.
Two key essentials of every kitchen - wheat and oil, hugely impacted by inflation.
Households splurged post covid due to pentup demand, not with income but by borrowing, especially through personal loans and credit cards.
With no savings, high borrowings and increased cost of living- majority of households are severely suffering.
I missed this LC survey exactly right….
https://www.localcircles.com/a/press/page/household-earnings-survey more
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Are these not related to population? Import of 30% pulses....wheat as well.....Let's see how long the govt. balances all other issues except hitting the major issues.....Central govt. has reduced direct taxes....GST is under a federal council and it has increased some taxes and reduced some....one crore population hike means one cr X per capita 3 lac increase in GDP as a minimum (PPP figure is 8 lac per capita as per Google).....LC needs to check the figures which drive govt. taxation more
Dec 22
everything which a common man eats the price has increased be it wheat rice oil pulses and not to speak about vegetables etc .with crude oil at a lower level and govt is not bothering to reduce the petrol /diesel price which is also one part of inflation and if crude rate goes up then it is the govt which first increases it but when it goes down they turn a blink eye and superfically wants to control the inflation knowing fully well it cannot be done .No use of spilling crocodile tears and putting aam aadmi into this situation.for ministers it is ok since whatever happens everything is free for them more
Dec 21
A Govt, does whatever feels right without bothering people's need or desire. Govt. is simply interested in enhancing the size of the GDP. Perhaps no one ever imagined such a huge price spike of essentials in recent times. Though Per Capita Consumption comes down but it's substantially high in value. Imposition of Tax is perhaps record high on every item to fill the Govt. Coffer that facilitate to spend Govt. money and take credit. That keep most of the households on tight spot and savings are dipping since last regime. Govt. flawed policy is also responsible for that. more
Dec 21
U explained right issue - but our central Govt know these but only interested in imposing, increasing the taxes.  Their are interested that you should earn more to pay more taxes. The are on way to kill the poor and his voice.  On Saturday 21 December, 2024 at 02:28:45 pm IST, Radha Puri wrote: more
Dec 21
Price is subject to demand supply conditions. If there is insufficient supply to meet demand, prices rise. India has always been deficient in cooking oil and is the largest importer of this. Due to Ukraine conflict the supply of sunflower oil has been reduced. Meanwhile as Indians become more prosperous, the consumption of cooking oil has increased. There is one way out in the short term that Customs Duty be reduced. But this will impact the farmer as lower prices will disincentivize him. I think there are adequate wheat stocks and FCI must release those. Due to heavy rains in September, the cost of vegetables soared and the last quarter had higher inflation. This should correct now. Household savings are being invested in stock market. more
Dec 21
