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Showing posts with label value of money. Show all posts
Showing posts with label value of money. Show all posts

Thursday, June 5

Price rise- is it a problem really?

What is the big deal about the price of fuel going up. It happens a lot of times in a century. It is the reason why our parents lament- "we used to buy fanta for fifty paisa", "bus fare used to be 20 paisa" and all that. All that happens is that the value of money goes down. At the end of the entire process, you will find that you can afford everything but just at a higher price. When the next time your parents say that they could buy LPG for Rs. 33/- per cylinder, dont forget to ask them how much they earned back then. Compare that to the current income structure, the explanation would be clear.

(My mom used to earn Rs. 250/- per month back then- year 1978. She was a senior school mathematics teacher, and it was the highest pay)