The future value of Rs 1 crore after 30 years in India is very bad due to inflation. Inflation is the persistent increase in the prices of goods and services. Inflation reduces the price stability of a country and it reduces the value of a country’s currency as less goods can be bought from the same amount of money every year due to the inflation. It reduces the people’s buying ability as they cannot afford goods and services while it also has some good effects like it encourages suppliers to sell more due to increases in prices as they are likely to have more profitability.
However inflation can affect the value of Rs 1 crore after 30 years in India as the value of one crore is likely to reduce massively over a few years. In ten years the value of one crore rupees will decrease significantly. With a 6% inflation rate one crore rupees will be worth approximately 5584000 rupees. This means that what you can buy with one crore rupees today will cost you nearly double in ten years.
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Looking further ahead in twenty years the value of one crore rupees will drop even more. At the same 6% inflation rate one crore rupees will be worth around 3118000 rupees. The purchasing power will be less than a third of what it is today therefore this will reduce the people’s ability to buy if the income of the people do not increase and this is likely to reduce the living standards of people as they will have access to low quantity and quality of resources. In thirty years the value of one crore rupees will diminish drastically. With continuous inflation at 6% one crore rupees will be equivalent to about 17,41,000 rupees. This is a huge reduction showing how inflation can erode wealth over a long period.
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Why Does Inflation Occurs And How Are We Contributing To It?
Inflation occurs due to several reasons in which the buyers are one of the most important causes of inflation. When people demand more goods and services that the goods could not be produced due to limited resources this leads to the suppliers to increase the prices of their goods as they have to finish the shortage in the market due to high demand and less supply due to lack of raw materials. Therefore this leads to inflation. Second reason for inflation is the increase in the cost of production in which normal buyers do not contribute to it as the supplier automatically increase price to cope up with increase in cost of production.
Will This Affect Us?
The inflation and the devalue of one crore might not affect us as at that time our income might also increase. When inflation increases and the price of goods increases, people’s incomes are also likely to increase so people can afford the goods they were buying previously therefore when one crore would be devalued we would have more income than previously leading the same level of consumption. However this has one drawback that people’s living standards remain the same and do not increase.
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