Many middle-class Indians today are finding it harder than ever to buy homes, not because they earn too little, but because asset prices have far outpaced salary growth over the past few decades. Akshat Shrivastava, a hedge fund manager and founder of financial education platform Wisdom Hatch, compares a Rs 3,500 monthly salary in 1990 to today's median salary of Rs 27,000-Rs 29,400. On the surface, that looks like growth. But adjusted for 6% annual inflation, Rs 3,500 in 1990 holds roughly the same purchasing power as Rs 27,000 today. That, Shrivastava argues, is the root of the issue: while salaries have generally kept pace with inflation, they haven't matched the pace of asset price growth, especially in real estate. "While the salaries are compounding very slowly in India, the asset prices: houses, land, gold, stocks have been growing at a much faster rate," he wrote. He calls this trend asset price appreciation, and notes that it's eroding the middle cla...
Former Pakistan pacer Shoaib Akhtar has warned Team India ahead of the Asia Cup final against Sri Lanka. The Rohit Sharma -led side received a timely wake up call following its loss to Bangladesh in the final Super 4 fixture on Friday. While India had rested several key players for the game, including star batter Virat Kohli , Akhtar suggested that it was a embarrassing defeat. Sri Lanka defeated tournament favourties Pakistan to reach the final, and Akhtar feels that winning the final won't be a cakewalk for India. "We were not expecting that India would lose to a team like Bangladesh but they did. It was an embarrassing defeat. Pakistan lost to Sri Lanka. They are out of the Asia Cup, which is an even bigger embarrassment. India are still in the final. All is not lost for them. It was a great wakeup call for them to come back harder and make sure they secure victory in the finals but that will only happen if they play really well. Ye khala ji ka ghar nahi hai jaha pe India...
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