My professor use to keep referring India as a very dichotomous country. I completely agree on it after reading a news which stunned me.
Lamborghini Urus a super luxury car is priced at Rs.3 Crore in India. According to a report 25 units of Urus was allotted for India. About the Urus Car:
The Urus, described by Lamborghini as a ‘super SUV’, is powered by a 4.0-litre, twin-turbo V8 that produces 650hp and 850Nm of torque and sends power to all four wheels (40:60 front-rear split) via an 8-speed automatic gearbox. Lamborghini claims the near-2.2-tonne Urus will do 0-100kph in 3.6sec - quicker than the original Murcielago - and can go on to a top speed of 305kph. Its 440mm carbon-ceramic front disc brakes are also the largest on a production car.
It seems Lamborghini grossly under estimated the power of India.
At one end Corporate India reached Government of India stating tax cuts is the need of the Industry and they welcomed it wholeheartedly. Auto sector said they were bleeding quarter to quarter and needed Government support to resuscitate them.
Lamborghini India gave us a big surprise:
"50th Lamborghini Urus Delivered in India Within 12 Months of Launch"
Now the big question is who are the buyers of the Urus (super luxury car)? did they voiced their concerns about India Slowdown?
The chances are very high that Individual tax payers with Income below Rs.5 crores will never buy a car worth Rs.3 crores and maintenance cost running in lakhs.
Surprisingly, 6,361 individuals declared incomes of over Rs 5 crore.
Now the dichotomy:
In a land of 133 crores, 6,361 people have declared income over Rs.5 crores and 50 Lamborghini Urus is sold. A classic tale on how Income Inequality works in India.
About Income Inequality in India from Business Today magazine:
India is no stranger to income inequality, but the gap is widening further. Last year's survey had showed that India's richest 1% held 58% of the country's total wealth, which was higher than the global figure of about 50%. According to the latest survey, the wealth of this elite group increased by over Rs 20.9 lakh crore during the period under review-an amount close to the total expenditure estimated in the Union Budget 2017. India's top 1% of the population now holds 73% of the wealth while 67 crore citizens, comprising the country's poorest half, saw their wealth rise by just 1%.
Welcome to Unchanged Old India in 2019.
No comments:
Post a Comment