The most common error that we make while comparing other countries cost of services to our own is that we simply take the base amount and multiply it by the rate of exchange and go “Se here hoe cheap our country is to live” . We conveniently forget to factor in standard of living , per capita income levels , facility offered , pro active governance etc.
Re: Calculative Factors
by Saheb Nagori on Jun 25, 2015 11:32 AM
Absolutely right. Going by purchasing power parity (PPP) and converting standard of living in Indian currency, the taxi fares in those countries will look like :
Belgium : Rs.16 France : Rs.47 Germany : Rs.23 Japan : Rs.38 Netherlands : Rs.17 New Zealand : Rs.25 Sweden : Rs.31 Switzerland : Rs.34 UK : Rs.24 USA : Rs.14
