Earlier I used to think PPP would show up the true scenario but I realize that the Indian central back is very conservative with money supply in the economy. So probably we need parity with the dollar on the same lines as EU or GBP rate to the dollar. Upto the early 80s I used to remember that we had the rupee and the Chinese currency around 12 to the dollar. Today we are plumbing the depths @ 46 and Chinese are @ 8/1$.
Needless to say the purchasing power of the Chinese outclasses us at least as far as nation. The architect of the Rupee devaluation during the early 90s was none other than the current genius who is presiding over destiny Shri Manmohan Singhji. At that time he did it under pressure from WB/IMF who were bent upon extracting their pound of flesh from India for a bail out package. I feel infact that their intention was to screw India's growth for a couple of decades on behalf of their mentor. The mentor of WB/IMF then and now is none of other than the current day thong & bikini clad sexy superpower we also refer to as the 'YouYesYaa' !
In our country a casual day laborer in a remote village still gets around Rs. 60/day if he/she is getting daily wages. That is similar to the $10/hr JoeSixpack working at some convenience/grocery shop for 6 hrs. But the purchasing power enjoyed by JS and disjoyed by our daily wage laborer "ShyamNoPack" has a ton of difference. That is where our history of first being screwed by the British and currently by the Americans and the brown sahib/desi elite in the interregnum becomes evident.
Trust me I would enjoy cars much more if India were in a situation like Germany where even an avg DeutschJoe is able to afford a VW or a MB. In such a country I would fill up my car with mods and ICE and still be happy about it and even manage to envy other by nurturing a guilt-free conscience and show my taste and class and manage to attract a few chicks at the same time. |