Cost gap across needs vs wants in India seems very much inverted as of today.
I've seen so many people living out of real bad conditions , working hard for earning just enough.
But surprisingly they all seem to have good & new smartphones, commute long distances for work and unable to afford a decent sized house![0]
Am not saying its bad for them to own new phones, its atleast a good emotional distraction for them,but reality is only getting tougher for them, day-by-day.
Predatory lending,in india had gotten off fast the last decade .Lots of people have more lots of unpaid credit-card bills.Banks started reporting lots of non-profitable assets.Some of the top private-lenders in india are loosing money by the day.[1]
Value is being eroded of Real estate with both corruption and extortion involved even in remote rural areas!
Though there is not much of stats in public domain for above, but [2] is indicative.
Cost gap across needs vs wants in India seems very much inverted as of today.
I've seen so many people living out of real bad conditions , working hard for earning just enough. But surprisingly they all seem to have good & new smartphones, commute long distances for work and unable to afford a decent sized house![0]
Am not saying its bad for them to own new phones, its atleast a good emotional distraction for them,but reality is only getting tougher for them, day-by-day.
Predatory lending,in india had gotten off fast the last decade .Lots of people have more lots of unpaid credit-card bills.Banks started reporting lots of non-profitable assets.Some of the top private-lenders in india are loosing money by the day.[1]
Value is being eroded of Real estate with both corruption and extortion involved even in remote rural areas! Though there is not much of stats in public domain for above, but [2] is indicative.
[0]:http://www.statista.com/statistics/257048/smartphone-user-pe... [1]:http://dbie.rbi.org.in/OpenDocument/publicOpenDocument.jsp?i... [2]:http://www.thehindu.com/news/cities/chennai/file-detailed-re...