The current inflation in India is a staggerring 7.5%!!!!!. Given that the rate of interest on all fixed return instruments is 8% (pre tax), and the stock markets in the red, it looks so very dismal.
Personally (and I am so lucky for this), the only way I am affected by this is that my investments are effectively not growing at all. Also I am more inclined to buy a house now, since home loans are hovering at 10.5%. But most people have been so adversely affected, the rising food costs are throwing already stretched household budgets into a breaking point.
I am no economist, and have no idea what has caused all this. But surely things can be better managed. On one side, India is growing and some of us are seeing a substantial increase in quality of life. (I always believe that had I been born 10 years earlier, I would have no option but to study for the GRE and go to the US, the predominant engineering jobs available here being in PSUs). But on the other hand, food prices are such a huge concern and affect the vast majority.
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