Who cares about consumer in this poor country? No one....Want to know Why... Here I go !!!
1. RBI cuts repo rate by 200 basis points - whereas variable interest on our loans are cut only 75 basis points. Banks are claiming that they are in difficult situation as if people who borrowed are living in heaven !
2. NYMEX Crude is down from 140 levels 50 USD. ATF prices were cut 4 times in the last 2 months in India. Still, fuel surcharge is not revised down by indian airline companies !
3. Commodity prices were ruling high until April - May. Commodity prices have crashed since then - example Steel. But, benefit of construction cost not passed on to poor consumers !
4. Car companies used to hike prices when commodity prices were ruling high. Now, they are not even opening their mouth on price cuts now!
5. Petroleum Minister claimed some time back that fuel prices would be cut when NYMEX Crude trades around 65. He is saying now, time is not ripe for cutting the retail prices !
5. Same case applies to textiles, two wheelers, movies etc... Dhoni would be paid Rs.3 crores for brand building where as you will get only 20% discount twice a year.
If you think, you can be better off in USA or Europe... Just read this titbit - GM, Ford, Chrysler directors came Washington in chartered flight and asked US Congress for 25billion Bridge Loan of tax payers money from the US government to tide over the crisis. If they could have taken an economy class flight they might have spent around 600 USD for the same trip but they spent 20,000 USD by using chartered flight.
After all, it is their perk stupid !
So, profit making companies are important at our cost of sacrifice ! Very Well !
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