u/Sea-Gain958

Guys,

Need to upgrade car speakers for my XL6 and if installer is really good.. Get the damping done for all 4 doors + tail gate. I heard sec 28 chandigarh tricity has few shops bit worried about fakes... Any good recommendations for changing the speakers... Looking for authentic installer... Preferably select few with whom you have personally dealt with and get stuff done.

Chandigarh Tricity area

A knowns son is not getting hostel. Apparently they are putting him in a room with 3 other senior boys for which he is not comfortable. Is there a option or good PG Nearby where we can put him...

Also, what are options. For. Hostel... Any contact will be appreciated...

So I bought s 35k bosch washing machine and she lasted exactly the warranty period before dying on me. Boasch refused to extend warranty of it's own machine showing how much they trust their own quality Post warranty Repairs were expensive,

Went ahead and bought a samsung top load thinking she will serve me well.same story there as well... Warranty expired in Feb 26 and today machine need repairs worth 7k.

I wonder if this is by design and a scam from these appliances companies. How come they always conkoff at just the time warranty gets expired...

So I bought s 35k bosch washing machine and she lasted exactly the warranty period before dying on me. Boasch refused to extend warranty of it's own machine showing how much they trust their own quality Post warranty Repairs were expensive,

Went ahead and bought a samsung top load thinking she will serve me well.same story there as well... Warranty expired in Feb 26 and today machine need repairs worth 7k.

I wonder if this is by design and a scam from these appliances companies. How come they always conkoff at just the time warranty gets expired...

Source -

https://x.com/i/status/2082471232428261446

FY13 to FY23 Tax Return Data of Salaried Persons: Inflation-Adjusted Wage Growth in 10 Yrs (a) Below ₹10L: -21% (b) ₹10L to ₹50L: -39% (c) Above ₹50L: -46%; Purchasing power hugely down in 10 yrs; Nominal wage growth is flat.

Working Class: The Lost Decade

The Income Tax Return Statistics released by the I.T. Department for FY13 and FY23 reveal what is going on with salaried taxpayers in the last 10 years. Writer and journalist Monika Halan @monikahalan has published eye-opening data in her HT column today.

Definitions:

a. Nominal Wage = Wage Not Adjusted for Inflation

b. Real Wage = Inflation-Adjusted Wage (Real Purchasing Power)

Annual Inflation Rate from FY13 to FY23 (Ministry Data) is as follows:

Using CPI (MOSPI, Base 2024=100): Consumer Price Index (CPI) was 55.6 in March 2013 and 93.3 in March 2023. This means cumulative inflation of 68% over the decade (Inflation: 5.3% per year average).

FY13 to FY23

Income Below ₹10 Lakh PA

Nominal Wage Growth: +2.8%/yr

Inflation-adj Growth: -2.4%/yr

Real Change in 10 yrs: -21.5%

Income ₹10 Lakh to ₹50 Lakh PA

Nominal Wage Growth: +0.3%/yr

Inflation-adj Growth: -4.8%/yr

Real Change in 10 yrs: -38.7%

Income Above ₹50 Lakh P.A.

Nominal Wage Growth: -1.1%/yr

Inflation-adj Growth: -6.0%/yr

Real Change in 10 yrs: -46.4%

It Means: On average, if your annual salary was ₹1 cr in FY13, your nominal (on paper) salary in FY23 is ₹89L, and your real salary (adjusted for inflation @ 5.3% per year) is ₹53.6L.

For a salary earner on average:

High Income:

Purchasing Power is down 47%

Middle Income:

Purchasing Power is down 39%

Low Income:

Purchasing Power is down 21%

The low-income group (below ₹10 lakh p.a.) is the least hit in terms of wage stagnation and wage de-growth.

GDP Growth vs. Wage Growth

Question:

From FY13 to FY23, how the annual nominal GDP growth is around 11%, while annual nominal wage growth is only 2.8% for lower income, 0.3% (flat) for middle income, and -1% (negative) for higher income salaried individuals?

Answer:

a. Demographic Dividend: India adds roughly 1 crore young individuals to the working-age population every year. As these new workers join the formal economy, they add to the nation’s productivity (GDP), receive salaries, and become taxpayers.

b. Nearly all of the GDP growth (related to salaried employees) comes from more taxpayers entering the system rather than existing taxpayers earning substantially more within their income band.

c. Since labour supply is more than demand, the bargaining power of employers increases. As a result, the salaries of existing workers remain flat or negative.

d. So, India’s GDP growth story is a labour supply-driven growth story, and not a labour demand-driven (wage-growth driven) story.

e. Upward Mobility: Some smart or lucky individuals manage to move up the income bands through skill upgrades, job switching, etc. But the vast majority remain stuck within their band, and keep losing the inflation battle.

Gen Z’s Uncertain Future

a. India is not an export-led or manufacturing-led economy. India’s growth story is a domestic consumption growth story. But the massive “demographic dividend” which India enjoyed for so long is now ending. Nothing lasts forever.

b. India urgently needs to move from a labour-supply driven economy to real wage-growth driven economy. Otherwise, once the demographic tailwind ends in a few years, there will be no wage tailwind to replace it.

c. Economists like Dr. Arvind Subramanian @arvindsubraman and Dr. Raghuram Rajan have long said that consumption in India is broken. Now we know that’s because wage growth is broken.

ENDQUOTE

“Poverty is the parent of revolution.” – Aristotle, Politics: Book II (4th Century BC)

Source -

https://x.com/i/status/2082471232428261446

FY13 to FY23 Tax Return Data of Salaried Persons: Inflation-Adjusted Wage Growth in 10 Yrs (a) Below ₹10L: -21% (b) ₹10L to ₹50L: -39% (c) Above ₹50L: -46%; Purchasing power hugely down in 10 yrs; Nominal wage growth is flat.

Working Class: The Lost Decade

The Income Tax Return Statistics released by the I.T. Department for FY13 and FY23 reveal what is going on with salaried taxpayers in the last 10 years. Writer and journalist Monika Halan @monikahalan has published eye-opening data in her HT column today.

Definitions:

a. Nominal Wage = Wage Not Adjusted for Inflation

b. Real Wage = Inflation-Adjusted Wage (Real Purchasing Power)

Annual Inflation Rate from FY13 to FY23 (Ministry Data) is as follows:

Using CPI (MOSPI, Base 2024=100): Consumer Price Index (CPI) was 55.6 in March 2013 and 93.3 in March 2023. This means cumulative inflation of 68% over the decade (Inflation: 5.3% per year average).

FY13 to FY23

Income Below ₹10 Lakh PA

Nominal Wage Growth: +2.8%/yr

Inflation-adj Growth: -2.4%/yr

Real Change in 10 yrs: -21.5%

Income ₹10 Lakh to ₹50 Lakh PA

Nominal Wage Growth: +0.3%/yr

Inflation-adj Growth: -4.8%/yr

Real Change in 10 yrs: -38.7%

Income Above ₹50 Lakh P.A.

Nominal Wage Growth: -1.1%/yr

Inflation-adj Growth: -6.0%/yr

Real Change in 10 yrs: -46.4%

It Means: On average, if your annual salary was ₹1 cr in FY13, your nominal (on paper) salary in FY23 is ₹89L, and your real salary (adjusted for inflation @ 5.3% per year) is ₹53.6L.

For a salary earner on average:

High Income:

Purchasing Power is down 47%

Middle Income:

Purchasing Power is down 39%

Low Income:

Purchasing Power is down 21%

The low-income group (below ₹10 lakh p.a.) is the least hit in terms of wage stagnation and wage de-growth.

GDP Growth vs. Wage Growth

Question:

From FY13 to FY23, how the annual nominal GDP growth is around 11%, while annual nominal wage growth is only 2.8% for lower income, 0.3% (flat) for middle income, and -1% (negative) for higher income salaried individuals?

Answer:

a. Demographic Dividend: India adds roughly 1 crore young individuals to the working-age population every year. As these new workers join the formal economy, they add to the nation’s productivity (GDP), receive salaries, and become taxpayers.

b. Nearly all of the GDP growth (related to salaried employees) comes from more taxpayers entering the system rather than existing taxpayers earning substantially more within their income band.

c. Since labour supply is more than demand, the bargaining power of employers increases. As a result, the salaries of existing workers remain flat or negative.

d. So, India’s GDP growth story is a labour supply-driven growth story, and not a labour demand-driven (wage-growth driven) story.

e. Upward Mobility: Some smart or lucky individuals manage to move up the income bands through skill upgrades, job switching, etc. But the vast majority remain stuck within their band, and keep losing the inflation battle.

Gen Z’s Uncertain Future

a. India is not an export-led or manufacturing-led economy. India’s growth story is a domestic consumption growth story. But the massive “demographic dividend” which India enjoyed for so long is now ending. Nothing lasts forever.

b. India urgently needs to move from a labour-supply driven economy to real wage-growth driven economy. Otherwise, once the demographic tailwind ends in a few years, there will be no wage tailwind to replace it.

c. Economists like Dr. Arvind Subramanian @arvindsubraman and Dr. Raghuram Rajan have long said that consumption in India is broken. Now we know that’s because wage growth is broken.

ENDQUOTE

“Poverty is the parent of revolution.” – Aristotle, Politics: Book II (4th Century BC)

https://preview.redd.it/epdoydjhbb1h1.png?width=592&format=png&auto=webp&s=ed511b18422a1d4f709c98a34e2bcc515b756984

Had to visit railway station who pickup son who was coming from jaipur.

You get 10 min to enter, pickup and exit. Fair enough if there is no traffic inside post 10 - 30 min, charges is 50 re and beyond 30 it is 200 re 😇😇

But

To enter you need good 15 min, pickup and luggage load etc eat away another 5 min, exit is fully dug up apparently for development work and is a proper offroad track with moon craters, Than there is a long line at exit. Parking contractor ensures thst you waste 10-15 min in line and God forbid if there a dispute.. U r stuck..than there is a 4 way crossing right st exit manned approx 50 metre away manned by police. The fella ensures that ur way is blocked & main road traffic flows freely while u wait to merge. This add to that long line at exit.

All this ensures that each car will pay 50 re minimum and if u get lucky after 30 min, you will be charged 200 re.

Why can't they ensure thst entry and exit is automated and charged via fast tag.. There is enough space for cars to pickup and drop, roads are not dug up and there is red light on exit to ensure smooth traffic flow.

On top, contractor has hired few ladies goons with zero sense of civility.. Who job is to throw slip at you 🤡🤡🤡