I find this article of your to be highly informative for a software engineer like me. I can now explain to my colleagues about how Inflation affects our daily life and how important is to know about Indian Economy. It would be great if you can tell us how to avoid the Inflation to rise from the RBI's comfortability level of 5.5%. Is there something that a common man can do to avoid the Inflation to rise?
In our country (India)input costs go up not only by increase in material cost but also due to low productivity. We produce less per capita. To put it more clearly, any worker, blue collared or white collared wants to work as less as possible and get paid as much as he could get. Also the industrialists want to produce as little as possible, so that there will always be a demand and they can inflate the price as they like. We Indians work only for money, not for the pleasure of working, neither we consider work as a social responsibility. Till this feeling enters into our attitudes prices will go up and we will not be able to prosper.
I live in US and have plans of going back to India. I have been concerned about the Inflation rate in India and the spending power of the people there. I though earning in $ feel the burn when I hear about the rise in prices of some of the essential things I would buy when I was there. So, what happens ultimately, how does inflation affect the companies? Is there an ultimate check at how much it can grow? Who controls that check?
