Financial Freedom
As we are on the verge of celebrating Independence Day, let me share with you a very interesting piece I read recently on "Why India is Shining". Within a couple of days we will be celebrating Janmashthami. Next month we would celebrate Ganesh Chaturthi and Bakrid, followed by Dussehra, then Diwali, Christmas, New Year, Pongal, Sankranti, Holi, Baisakhi, Eid etc. On every occasion, we spend our money. This money brings income to someone else and he spends and it creates an income for someone else. Thus the cycle carries on and on. Basically we are a consumption oriented economy and the consumption is increasing day by day. Thus spending puts money into circulation in the country. Compared to this, major other countries derive income from export or manufacturing. Hence their economy and income depends on how much they export.This is why central banks around the world are reducing their interest rates so that their citizens borrow at low cost and spend. When ...