Admit It, The Water's Around You

“In 2006, the interest on home loans was 8.25 per cent. At 11.5 per cent, it is quite high now. We have little choice but to increase our emis or extend our loan tenure. If I do not extend the tenure, my emi will be Rs 7,000 more than what I had to pay when I had taken it.”

“Excess disposable income during the boom was useful for smaller entrepreneurs like us. Business was really good till these last few months. Now, customers are adopting a wait-and-watch policy. I have bought property, roamed around the world, made my two children’s future secure through investments. Of late, I have cut down on unwanted expenses and am just trying to be safe. The new government has to come up with a shot of vitamins to restore confidence in the investor and the aam admi. It should look into a new stimulus package for all of us. I really hope for fewer taxes and less red-tapism.”

“Since the economy has slowed down, we will have to tighten our belts and get used to living ‘unleveraged’ lives, irrespective of which government wins power. The lifestyle of people in power didn’t change. Corruption in government was rampant, although it was led by a man of integrity.”

“I just want enough to survive and support my family. The inflation also takes away whatever more I earn compared to 2004. On a day when I earn and save a bit I eat a meal of chicken, if not I survive on dry bread.”

“Higher minimum support price for paddy and wheat has resulted in more money in our pockets and the lot of farmers today is very good. We have acquired all basic urban comforts, like air-conditioners, colour televisions and refrigerators in the last few years. Since I have no other family liabilities except towards my own children, my farm income is sufficient to provide us a fairly good livelihood. Though everything is becoming expensive, if we continue to get a good price for our produce, farmers will have few grouses.”