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Climb to richness

The article “The pursuit of luxury” (June3) has clearly brought out the well-pronounced growth of the Indian economy in general and the overwhelming purchasing power of the Indian middle class. Gone are the days when people used to consider “saving” as an inescapable item of the monthly budget. Today the emphasis is on spending and the loan and credit facilities provided by the financial institutions enhance the purchasing power. The MNCs have clearly analysed the youth’s psychology and are doing everything possible to attract the people to spend more and more.

Capt. O.B. Nair,
Poonithura, Kerala

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