No respect for money.

"The Indian economy exhibited robust resilience in the previous fiscal," but "witnessed a moderation in growth in the second half of the fiscal. The RBI has attributed this to unfavorable base effects, weakening private consumption demand caused by high inflation, a slowdown in export growth and sustained input cost pressures." ET. "Job demand under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) declined on an annual basis, but still prevailed above the pre-pandemic level in the previous fiscal. This indicates that the recovery, especially in the unorganised segment of the economy is not yet complete, RBI said." The MGNREGS seeks to provide 100 days of guaranteed employment in rural areas to provide financial assistance to the rural poor. nagard.in. "The unemployment rate in urban areas in the January-March quarter of 2023 slowed to 6.8% from 8.2% in the January-March period of last year." ET. But the labor force participation rate (LFPR) for women increased to a pathetic 22.7% from 22.3% in the October-December 2022 period. It is deeply embarrassing that the LFPR for Indian women is below that of Pakistan, Saudi Arabia and way below that of Bangladesh. theglobaleconomy.com. The fall in urban employment is good news because agricultural employment increased from 42.5% in 2018-19 to 45.5% in 2021-22. The Wire. A significant share of employment in agriculture is unpaid self-employment. "Slowdown in discretionary purchases by Indian consumers is likely to continue for a few more months before a strong revival in demand in the second half of the fiscal, chief executives of several leading consumer-focused companies said. By then they expect inflation to taper down and economic growth to normalise, triggering a consumption boom like last year till Diwali." ET. Consumer price (CPI) inflation rate fell to 4.7% in April from 5.66% in March 2023. Mint. A fall in the rate of inflation does not mean that things are getting cheaper. It only means that prices have increased by 4.7% on top of last year's prices when they increased by 7.79% in April. Increased spending by a section of consumers was a global phenomenon, including in the US, last year and has been dubbed 'revenge spending' due to demand pent up during Covid lockdown. CNN. That demand has been exhausted by now, so the spending power of Indian consumers remains to be seen. Meanwhile, "India has emerged as a key source country for Foreign Direct Investment (FDI) in Dubai, one of the wealthiest of the seven emirates in the United Arab Emirates, according to a report." BI. Why invest in Dubai and not at home? Because, "Once again, India wants people to look into their wallets and cash tills and do due diligence on their pink 2,000 rupees," wrote Andy Mukherjee. "Sovereign cash should have no room for questions. Its users shouldn't have to value the bills as long as they're confident that when it's time to hand them over to someone else they wouldn't have to provide any answers either. Ignorance is bliss." Exactly. An arrogant government believes that it owns all the money in India and citizens are thieves if they have any. Better to invest in rich Dubai. At least your money will be respected.