Nice article with good facts. However it does not take into consideration the effects of inflation which is growing at an alarming rate. Thus all figures need to be indexed for this fact. Hope McKinsey would have taken this into consideration for all calculations.
RE:India Booming
by indiman on May 22, 2007 07:02 AM Permalink
Absolutely right. great article makes you feel good. But the inflation is the worrisome factor mostly for lower income group and people below poverty level. Either the purchasing power of these people have to be increased by going for floating minimimum wage per hour as in the west or the inflation needs to brought down solidly or jobs need to be created targeteing the lower income group ( like manufacturing, supporting agri, fisheries, forestry, mining etc, jobs that dont need extensive education).
