How does India’s economic crisis affect people? Satirist Akash Banerjee explains (mostly seriously)
‘A decline in the annual GDP growth rate from 5% to 4% means getting Rs 105 less per month.’
Satirist Akash Banerjee’s new video talks about India’s economic crisis – what can ordinary people can take to shield themselves?
Banerjee identifies some of the ways in which the economic crisis affects the monthly budget of an average citizen: Inflation, lower savings, a threat to businesses, and scarcity of jobs. His tips to manage the crisis include keeping an eye on loan rates, not falling into interest payments, upgrading skills to be better-suited at jobs, and exploring newer ways to invest, like the stock markets.
Minor details like adjusting savings in banks for inflation rates, fluctuating prices of daily essentials, and India’s quasi-recession find mention in the thirteen-minute video. Banerjee also explains how India’s economic inequality means that a lower GDP growth rate amounts to a rise in poverty for those already poor.
