The average for the most well-off 5 percent in urban areas still falls short of Rs 21,000. One percent of India’s population is 14 million. A consuming class of 2 percent of the population would be roughly as large as Belgium and the Netherlands put together. Indians shouldn’t be happy with the statistical reduction in poverty. Growth in industrial demand and a mass market depend on growing purchasing power with the masses. A growth strategy, with special focus on education, making India’s youth employable and generating income at a high level of productivity, is needed
Assembly Elections 2023: Congress’s outreach to OBCs and its promise to carry out a nationwide caste count and remove the 50 percent cap on reservations for SCs/STs and backward classes will first be tested in the assembly polls before the Lok Sabha elections next year. But winning back the OBC vote from BJP won’t be easy
Bengaluru to host a gaming summit: Karnataka IT-BT minister
Typically, banks tend to be prompt in raising rates during a tightening phase but fail to display the same alacrity when interest rates are moving south