Since childhood we have been listening to the slogan of Garibi Hatao. It was considered inevitable that the poor will become poorer while the rich will become richer. However, the changes in the past decade have shown that it needn't be so. All the schemes to improve the lives of rural India is finally bearing fruit. Once the struggle for survival has been overcome, we can now see the consumption going up. It is only after the basic needs are met that one can think of spending on durables. Like you had mentioned in a previous newsletter, most of the rural youth has access to mobile phones. That was unimaginable earlier.
It's interesting that the food trends are also changing. Earlier it used to be the staple cereals since there was no choice. Of course the ultimate irony would be if the traditional thali is replaced by fast food as is happening in most urban households. The culture of ordering food online is something which has really caught on in major cities. Won't be surprised if this is seen in rural India in the next decade or so.
Till a few years back there was no concept of disposable income. It's a luxury the people in rural India is experiencing for the first time. That's why it's possible to pay attention to personal comforts and start investing in things which will improve the quality of their lives. One can be optimistic that these changes are here to stay and the rural- urban divide will be further reduced.
Thank you so much for your detailed thoughts. Much appreciated.
Couldn't agree with you more. Decline in abject poverty is such a remarkable achievement. If indeed the Niti Aayog math is right, then India has got rid of abject poverty. Of course now the goal post has to be moved--to align it with the new growth trajectory. Hopefully this trading up trend continues.
I doubt if any of this can be reversed by any government going forward. The aspirational economy has found its legs. This will manifest in their electoral choices. So no politician will want to take on the wrath of an angry electorate.
Dear Anil
Since childhood we have been listening to the slogan of Garibi Hatao. It was considered inevitable that the poor will become poorer while the rich will become richer. However, the changes in the past decade have shown that it needn't be so. All the schemes to improve the lives of rural India is finally bearing fruit. Once the struggle for survival has been overcome, we can now see the consumption going up. It is only after the basic needs are met that one can think of spending on durables. Like you had mentioned in a previous newsletter, most of the rural youth has access to mobile phones. That was unimaginable earlier.
It's interesting that the food trends are also changing. Earlier it used to be the staple cereals since there was no choice. Of course the ultimate irony would be if the traditional thali is replaced by fast food as is happening in most urban households. The culture of ordering food online is something which has really caught on in major cities. Won't be surprised if this is seen in rural India in the next decade or so.
Till a few years back there was no concept of disposable income. It's a luxury the people in rural India is experiencing for the first time. That's why it's possible to pay attention to personal comforts and start investing in things which will improve the quality of their lives. One can be optimistic that these changes are here to stay and the rural- urban divide will be further reduced.
Dear Ranjini,
Thank you so much for your detailed thoughts. Much appreciated.
Couldn't agree with you more. Decline in abject poverty is such a remarkable achievement. If indeed the Niti Aayog math is right, then India has got rid of abject poverty. Of course now the goal post has to be moved--to align it with the new growth trajectory. Hopefully this trading up trend continues.
I doubt if any of this can be reversed by any government going forward. The aspirational economy has found its legs. This will manifest in their electoral choices. So no politician will want to take on the wrath of an angry electorate.
As always fingers crossed.
Best
Anil