income disparity won’t go unless indian market is redesigned

anyone thinking of bridging the income gap in indian society would be at fault unless redesigning of the market is considered. in simple words, a market comprises of a producer, the trader and the consumer. while there was utmost need of a driving force, the trader, in putting the consumption cycle at work, an unchecked market mechanism has led to income disparity. let us explain how. the producer that generates goods and employment is the primary player in any economy. the same employment generates consumers who buy different goods and thereby let the economy function. this production and purchase relationship is the key driving force in any economy, to be true, the only driving force. traders in between do facilitate purchases, however also distort the market in many ways, for a trader isn’t a producer, although he may be a consumer for some produced goods. now we need to observe how money is created in any economy. for the part of work one

read more income disparity won’t go unless indian market is redesigned

demonetization-the worst is yet to come

in the backdrop that india has as many as 2 lakh atms, fixed cost of inr 6 lakh is involved in installing one such machine, inr 60 thousand is spent monthly on a machine’s maintenance, and that sadly not even half of these machines are functional at any given time, let us see the impending pain awaiting us. not to forget, public sector banks are owned by us, the general public, albeit indirectly, so we can lawfully ask questions, determine accountability. country has been promised a new dawn by the present government, they say this new india will be driven not on cash but by digitized transactions. and these digitized transactions will be handled by our banking system, the same system that has been unable to deliver even half functional atms. in its race toward digitization, government is overlooking one basic flaw- our failures in sustaining earlier such efforts, our failure in determining liability of those responsible. more we move toward

read more demonetization-the worst is yet to come