cheap food for POOR people

[psnarasimhan]

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[Brahmanyan]

Cheap food for POOR people

It reminds me of an old story which goes like this. Class teacher asked the students write about poverty and one girl, daughter of a rich man did not understand the question wrote "There was a poor man who lived with a poor wife, they had two poor daughters. Their Servants were poor, cook was a poor lady and Car driver was also poor, they purchased all things from a poor shop...so on and so forth".
India is a poor Country and majority of people are poor.

Brahmanyan,
Bangalore.

 

[psnarasimhan]

Mr.Brahmanyan,
Well said .Kudos.
So, we are only mute spectators.

 

[prasad1]

It reminds me of an old story which goes like this. Class teacher asked the students write about poverty and one girl, daughter of a rich man did not understand the question wrote "There was a poor man who lived with a poor wife, they had two poor daughters. Their Servants were poor, cook was a poor lady and Car driver was also poor, they purchased all things from a poor shop...so on and so forth".
India is a poor Country and majority of people are poor.

Brahmanyan,
Bangalore.

You are right about the majority.
It is not that obvious in MB or BMW showroom. Last time we had tough time getting into any jewelry or Sari shop. Merchandize flies out of Sarvana Stores. So it is uneven distribution of wealth. Dhoni can collect Rs 1,00,000.00 in 4 overs of IPL.
Now who do you call poor?

 

[Brahmanyan]

You are right about the majority.
It is not that obvious in MB or BMW showroom. Last time we had tough time getting into any jewelry or Sari shop. Merchandize flies out of Sarvana Stores. So it is uneven distribution of wealth. Dhoni can collect Rs 1,00,000.00 in 4 overs of IPL.
Now who do you call poor?

Dear Sri Prasad,

You are correct. Recently I read some articles about money in the form of currency. Now the concept of value of money has changed. I give below some portions from the same that I wrote in another forum :

Today we use the concept of "fiat Currency - that enjoys legal tender status derived from a declaratory fiat or an authoritative order of the government. It is often associated with paper money because, without government fiat or guarantee, bank notes are not a legal tender in payment of debt, and only specie (metal money) has unlimited legal tender for money debts". After opening-up of economy, India has gone in for managed paper currency standard and currency is not convertible into gold.To protect the public and guarantee the nation against any bankruptcy, the RBI keeps a certain percentage of gold in their own safe deposit vault, in proportion to the additional currency minted and directed into the circulation. The quantum percentage of gold kept in the deposit is not exposed in any documents or in the Websites of RBI or the Government of India.

"The inherent value of paper money is zero, except when it is measured against the value of consumables the bearer of such worthless paper can exchange for each unit of currency in his or her possession. Additionally; paper money has an intangible value that is directly related to the condition of need of its bearer. While a one hundred rupee currency may be inconsequential to a person with little material need the same may be the governing factor between homelessness, health, and even life for another with lesser means.. In other words, paper money is valued at the maximum amount of consumable for which it can be traded either directly or indirectly."
(I have taken the information mostly from the answers given by Dr.VSR Subramaniam, Expert in Economics, my thanks to him )

Brahmanyan,

Bangalore.