I admit am a novice at economics. I always keep thinking about how the 'cost of living' in India has shot up to unbelievable heights. Don't have a clue how middle class Indians are making ends meet.
back in 92 a masala-dosa at a hotel in my hometown cost 2.50, 10 years later it cost 11.00 rupees - more than quadrupled !
agreed, the salaries also went higher may be doubled ?
but what are the mechanics ..sorry.. economics behind this ?