Simplified Laws Guide to Taxation and Legal Concern Is the Economy doing good? I get assorted, too extreme views – for and against. The published junk data, usually, does not tell the truth. So, I resorted to checking the ground realities from a few of my connects, and here is what I heard, in an unmixed form.
High-end wristwatches – The price of these products range anywhere from Rs.16,000 to Rs.5,00,000 per piece. During these times, I believe, if these kinds of wristwatches are selling, then the economy should be back in action. So, I spoke to my friend who works in one of the leading brands. He said business has picked up and they are well within meeting FY21 targets!
Automobile Dealer – If the Automobile industry picks up, it gives tremendous impetus to the economy. Auto carries the entire ecosystem along with it, both in growth and de-growth. My friend, a leading Auto dealer in Bangalore says the entire stock that he has is sold, their yard is empty and some models have 8 months waiting period. In Feb month alone they have sold twice the numbers than their usual sales in any normal months.
Rural Economy – To check the rural economy I called my relatives in Puttur, Dakshina Kannada, they are flying! The commodity prices have soared like never before! They say the planters/growers are renovating or extending the houses, buying new stuff including vehicles. They are in celebration mode.
Healthcare – Many of my friends are in the pharma and healthcare sector. They are in cloud nine! Their business is a Super Hit!
Who else? When I roam around the city, I can see most of the retail outlets and restaurants, either crowded or overcrowded, no third option.
Likewise, I have spoken to many people in diversified fields, all of them chant the same – we are doing good.
If so, what about the rise in oil prices?
Increase in Petrol/Diesel/LPG Prices – It’s a NON-ISSUE. No one seems to be taking cognizance of the increased prices. My guess, the increased income is acting as a shock absorber to rising prices. So, no one is pinched by the hike in oil rates. Looks like, if the prices go to Rs.150 or even to Rs.200, people will happily receive it, no grouses whatsoever.
Further, as a fall out of increased oil prices, all other essentials have become expensive. If this is hurting the community, there would have been coverage of such topics in the visual media. It appears, barring none, be it CD9, CD18, PUBLICIDI, etc. are busy entertaining people with the elections and other variegated news!!
Then who has an alternate view? The people from the Old school of thought. When we studied Economics, we were taught that when the price and parallelly, inflation goes up, the demand comes down. The current situation is not portraying the classical principles; contrarily, when the prices are going up, the sales are also going up!
The manifestation of contemporary economics is proving the old school, armchair economists to be wrong again and again. They are crying that the economy is devastated, but the reality shows a glowing contrast picture. Maybe one has to understand the changed scenario and accept the reality – The economy is doing good. Stand corrected.
When I studied marketing, we were taught that one has to sell what is in demand! Going by the mood of the nation, my dear crying babies, stop selling ‘tears’. There are no takers. Instead, sell ‘smileys’, the whole country will embrace you! Come on Pundits, people are enjoying, join them. It’s party time.
