From Fuel to Food: How the Rupee's Fall Is Hitting Your Wallet

[00:00:00]Hello and welcome to Money Life. This is Sucheta Dalal.

[00:00:03]We are lucky the war is over. So, what are we talking about? The war is over, the hardship is not. We are suffering because oil prices have gone up. We realize that our rupee has depreciated enormously. So, whatever is signed on Friday, 19 June, even if it happens without a hitch, it doesn't mean things are going to come back to normal. And this video blog is about what has happened. First, I want to talk about things that people do not talk about.

[00:00:31]How much more we are paying for our daily commute, for our food, the hardship to the middle class, even those of you who took four or five foreign holidays, you have to cut them down. And whether you admit it or not, the numbers say it. As much as the costs have increased 10 to 20%, that much is a decrease in bookings. It's real. Your air travel costs, don't even ask. The total cost, including your commuters, as high as 35%, but we are silent. Why?

[00:01:00]Because there's a war. It affects everybody. I'm saying, "No, it has affected us more because we weren't quite clear where it's going. We did nothing to stop foreign portfolio investment flowing out, putting more pressure on the rupee, so the rupee depreciated more. And now, the reason for talking about it is that our hardship may not end. We have the El Nino impact. We are in the middle of June, there's no sign of rain, not in Mumbai, not in most parts of the country, and we're not talking about a few pre-monsoon showers and flooding.

[00:01:35]It's a worrying situation. There may be water shortages. There have been electricity shortages in the height of summer in a city like Mumbai, where it never happens.

[00:01:43]And you need your government to start working, building contingency plans, acting in advance, rethinking the green cover, and preparing for it, instead of just reckless investment on infrastructure.

[00:01:58]If you agree and if it's affecting your life, open your eyes and look at it.

[00:02:03]Look at this whole video and begin to ask questions because you can only question the government that you have elected at the time that it is in power and you need to start now because the impact is going to face be faced by you, me, right? If you agree, look at the video, subscribe and share. Thank you.