India Today Hindi - February 27, 2013
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Highlights of India Today Hindi issue dated February 27th, 2013. Cover Story: India Today Hindi’s cover story Paisa Hajam, Khel Khatam. A lethal combination of stalling growth and persistent inflation has taken a toll on consumers. A telltale sign of a spending squeeze is a cut down in non-essential, discretionary expenditure. The signs are everywhere. Take Solomon Selvaraj, 40, assistant vice-president with Polaris Financial Technology in Chennai. Until 2010, he could afford to take his wife and two daughters on an international holiday every year. In 2011, after the slowdown started, he could only afford a trip to the hills in Uttarakhand. In 2012, his family holidayed in Tamil Nadu. In 2013, he cannot even afford to go on holiday. “Prices have shot up enormously,” he says. His income has not kept pace. Eighty per cent of his monthly income of Rs 1 lakh goes in essential expenditure including an expensive home loan. Despite RBI’s January rate cut of 0.25 per cent, interest rates are still exorbitant. Selvaraj has to trim expenditure too. “We have cut down on eating out as well from twice a week to much less frequently,” he says. His discretionary spending has been almost entirely eliminated in the last year.
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