The contribution of private consumption in the economic growth of a country 60 is the percentage, This is a warning bell for him. Since companies know the rules of business, So they are concerned about this trend.
A large part of the country’s corporate sector is also apprehensive about the economic future of India, which is currently enjoying and whose wealth is still growing. He is of the opinion that the shine that is there now is not sustainable. This is because the ground base of consumption and demand is breaking down. This opinion of top officials of this sector has come to the fore in a story on the American website Bloomberg. Bloomberg has given this story a provocative title: ‘Growing inequality exposed by rising demand for luxury products.’ This story has again shed light on the trend in the Indian market that there is a boom in the sale of expensive consumer goods, while the starting price of the same product is not being sold. For example, freezes worth 1.5 lakhs are being sold a lot, but buyers of freezes worth 25 thousand to 75 thousand are missing. That is, the low-income customers are marginalized and they are no longer able to consume like four-five years ago.
So the company officials have rightly said that this is an alarm bell for a country whose private consumption contributes 60 percent to the economic growth. Since companies know the rules of business, they are concerned about this trend. By the way, these simple rules, even the ministers and officers of the government must have known the need. But in the present government, he has been entrusted with the main responsibility of headline management. That’s why they keep trying to find hopeful facts even within the gloomy economic data and on the basis of it, they are busy promoting the happiness narrative. If it is clear that this method of government is spoiling the present as well as the future of the country. Now the real income of the people is decreasing due to rising inflation. Due to this, they have to spend a relatively higher part of their income on basic needs like food. So how will they consume the rest? This is an ear-popping condition. But will the ears of the government stand now?