I am NRI residing in Gulf for over a decade. During my yearly jaunts to India, especially during the last 4 or 5 years I was astonished with the way prices of everything from property to vegetable skyrocketed each year. Whenever, I tried to come to terms with this "too good to be true" situation, I was told that there is a paradigm shift that has happened in India and that the country is shining and every body has become very rich - Landed class because the land prices has shot through the roof, the rich, middle class making millions in stock market and just out graduates earnings lakhs in the ever growing IT & ITES companies. And that everything in India has changed for the better for ever. I was ridiculed and even asked to stop whining about leaping prices of essential day to day items and also financial & real estate assets. Seeing the big hullaboo about inflation all over the media and public discussion arena at present, I am at a loss to understand what has happened to the great wealth-effect of the countrymen.
