I wonder if we realise that rise in money supply of around 15% YOY in India.  Rashmi Bansal sure does and is very worried….

Those were the days when a single rupee had its value.My mom recalls a time

when desi ghee cost Rs 5 a kg. Her wedding saree – a Benaras silk – cost a princely Rs 210.I remember, most vividly, the price of Modern bread. My mom would give me a 2 rupee note to fetch it. The bread cost one rupee and eighty paise. From the change, I would buy 4 mints for 5 paise each.

Less than a decade ago, the 500 rupee hundred rupee – or Gandhi note – was a rare and precious thing to have in your purse. For a while, they were even 'dangerous' to have because forged notes were making the rounds. Shopkeepers would glare at the watermark and the silver strip, just to make sure.

Then came the ATM era, with machines casually spewing out 500 rupee notes to whomsoever desired them. Soon you had the retail monsters which would willingly swallow up these notes whole.

This morning I took daughter to see Ice Age 2 at Inox. We had a great time. That time (barely 1.5 hours) saw one 500 rupee note vanish into thin air. The tickets cost Rs 180 each. Two popcorns and a Coke cost Rs 120. Poof!

Later, we checked out some of the shops on the ground floor of the multiplex. There was a clothing store called 'Aftershock' with strappy little tops and tight shiny shoes. The kind Vjs get to wear for free on television and rarely look good on anyone else. The price tag for a skirt – Rs 3495.

Poverty is a relative thing. Today, I felt relatively poor. But it's not about money per se, it's about values.

The irony is that Gandhiji, whose picture is printed on that currency note, once observed,"Earth provides enough to satisfy every man's need, but not every man's greed."

 Perma link of her post

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