Inflation rate in India is between 7 and 8, the price hike in all the grains is more than 20 % compared to last year's figures at the same time. Suppose the inflation figure touches to 165000 % what will happen ?
Though this will not happen in India, it has happened in Zimbabwe. Yes, in Zimbabwe the inflation rate is world record high of 165000 %, and it is increasing 64320 % every month. When the inflation is more, the purchase power of that currency decreases. In Zimbabwe the currency is known as Zimbabwe Dollar and written as Z$. A person with Lacs of Z$s is living under poverty line. Because to buy one cigarette (and not packet), one needs 6 Lac Z$. One toilet paper costs 8 Lac Z$. A packet of bread costs 2.50 crore Z$.
In Zimbabwe earning of poor family may be 10 crore Z$, but with this money one can buy only bread-milk for 8 days. A shopkeeper doesn't give bill for the purchase as the same costs him 5 Lac Z$.
The buying power of Z$ is going down so sharply that in a week the value of Z$ gets reduced to half.
The Government used to print new notes whenever needed and result of which is that now Government has no money to buy grains, gas and petrol from the international market.
25 % of the total population of 120 Lac migrated to nearby countries. For 1 US $ you will get 2.50 crore Z$.
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Though this will not happen in India, it has happened in Zimbabwe. Yes, in Zimbabwe the inflation rate is world record high of 165000 %, and it is increasing 64320 % every month. When the inflation is more, the purchase power of that currency decreases. In Zimbabwe the currency is known as Zimbabwe Dollar and written as Z$. A person with Lacs of Z$s is living under poverty line. Because to buy one cigarette (and not packet), one needs 6 Lac Z$. One toilet paper costs 8 Lac Z$. A packet of bread costs 2.50 crore Z$.
In Zimbabwe earning of poor family may be 10 crore Z$, but with this money one can buy only bread-milk for 8 days. A shopkeeper doesn't give bill for the purchase as the same costs him 5 Lac Z$.
The buying power of Z$ is going down so sharply that in a week the value of Z$ gets reduced to half.
The Government used to print new notes whenever needed and result of which is that now Government has no money to buy grains, gas and petrol from the international market.
25 % of the total population of 120 Lac migrated to nearby countries. For 1 US $ you will get 2.50 crore Z$.
Other Articles :
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