Last month I resigned from my job. I put resignation 2 months before I shift to Gujarat. In the meantime, I tried to search myself and life beyond numbers.
Since beginning of my PGP course I am passionate about going beyond numbers in finance for better human to human understanding.
I don’t have big data and complex statistical tools for research, so I decided to do it in my own way.
Every time I visited Select city mall in Saket, New Delhi or Ambiance Mall in Gurgaon I feel my understanding about money is imbalanced. So, to balance this understanding I visited streets of Chandni chowlk and Sarojini Nagar market. And I found my answer. I get this answer from stores like Zara to Shopper Stop, Blue-O to BMW showroom. From a chai wala in Palika Bazaar to Electronic shops in Nehru place. From a fruit shop in Sadar Bazaar to Ansal plaza at Palam Vihar, and many more..
And I came to a conclusion that, India is trapper by Inequality. And I believe that if policy makers will not act in a right direction this gap of inequality will widen.
Currently I am living in Sec-40 in Gurgaon, where I have seen most of the people are living on rent. Areas around Cyber Park and Phase-2 most of the working individuals or families are living on rented apartments. I discovered very unusual things [due respect to individuals interest - views are personal], where people having sedan car not only one but two cars, without a place to park. Some of them are having a big car than their home. They have money to pay car loan EMI but do not have money to start a SIP (Systematic Investment Plans) for retirement years.
I might be wrong in my research, but yes, this is truly inequality, where a person chasing luxury assets at cost of basic necessity. The reasons they are unconsciously driven are, first, high expectations from future value of money. Second, illiteracy in money management, third, herd behavior [my neighbor is risk taker and she is investing in real estate, even I also do better in real estate]. Individual should take risk according to their own risk taking ability.
In the end, to narrow down this inequality gap, India needs second wind phenomena. If India fails to generate second wind it will further drag down in inequality and an individual will suffer middle income trap.
I am ready to bet on RaghuRam Rajan’s strategic policies and leaders like Narendra Modi, who has capabilities to create second wind phenomena. When next time game changes and ball falls in your court, take advantage of it. If we'll fail to act in our money management The next crisis will expanse our defaults.