21207Budget. Inflation containment is a must
- Mar 9, 200710/03
Thanks, Vinay. Congrats on this positive measure. This is regarding
Budget. Inflation containment is a must. In the USA & Malaysia, &
abroad there is value for the smallest coin. If I submit a $ 100 for
1 cent due I get back $99.99 cents.
In the British India days, a chicken dish on the Frontier Mail
dining car cost 6annas, 3 pice, and 2pies.
Today, there is no value for the small coins. The largest
denomination coin is the bottom of acceptable currency.
Beggars delight in this practice .They refuse to accept low
denomination coins, saying it is time consuming & wastage of their
Super malls print bills 'rounding off' the small coins. Contractors
and architects submit tenders, quoting Rs.5000.25paise per square
Hardware dealers buy in 'Metric' and sell in 'British.' A ton of
nails bought sells at Rs.2 per dozen!
None of our economic experts bother to touch on this aspect.
The time worn adage,' Take care of the pennies, and the pounds will
take care of themselves has never been more relevant.
Is it possible to solve this problem?
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