Affordability of people , an emerging concern.
Apropos your Editorial Give Urban Spenders A Nudge to Spend (Nov1), though, the economy is poised to grow as per RBI, GOI and even IMF, the fact remains that the affordability of the people particularly those in Urban areas cannot afford to give a boost to consumption demand and aid the the growth of the economy as envisaged in the background of high inflation, economic policies in vogue and uncertainties on political stability and geopolitical situations. The real wages have been on the decline for quite some time without adequate compensation from the employers, fiscal and monetary policy authorities and even from the so-called free market forces of demand and supply. It is high time the authorities wake up and see the realistic position at the ground level and attune their fiscal and monetary policies in such a way that the salaries wages, interest on savings, factor the unabated inflation with the support of very effective administrative measures including the persuasion and moral -suasion approach wherever necessary to ensure that the economic growth envisaged is on right track and the flow is very smooth and equitable.
T V G Krishnan
