One rupee eq to thirteen US Dollars!!!

[Prem Bihari Mishra]

Following is copy of an email received few months back from a friend of mine in USA. 

Can somebody confirm? 

Really interesting IF TRUE.

 ----P.B. Mishra

Did you know that one Indian Rupee was equal to USD 13 in 1917? Today 1$ = Rs 54. The devaluation was 700 times = 70,000% in 96 years.

[sushil...@gmail.com]

It is correct Misraji.Even in 1947 one dollar was equal to 3.5 rupees.
This is the development we have done in our economy and still feeling proud.
Regards

Sent from my BlackBerry® smartphone

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From: Prem Bihari Mishra <pbmish...@gmail.com>

Sender: dwarka-r...@googlegroups.com

Date: Tue, 7 Jan 2014 21:18:33 +0530

To: <SD...@googlegroups.com>; dwarka-r...@googlegroups.com<dwarka-r...@googlegroups.com>

ReplyTo: dwarka-r...@googlegroups.com

Subject: [Dwarka Forum-] One rupee eq to thirteen US Dollars!!!

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[Krishna]

I am not an economist but such comparision is just complex.. What if 1Rs was equal to 100$ but my salary was 2Rs/month?. Main thing is purchasing power, with what you get in month, what you can purchase. compare with Kgs or wheat or rice or any standard stuff that gives what u are really earning.. all other comparisions are just useless to me..

FYI, Japan, south korea are developed nations and 1$=1000+ Won or Yen. Does that makes their economies poor.?.. They are developed bcoz still they get 4000+ in US$ in whatever currency they have...

So in present scenario, if our avg. salaries were 2.5lac+ to 10-20Lac per month than only we would say we are doing developed. 

So such compartisions are complex.. Might be in 1947 people were getting salary of 20-40Rs/month or so.

regards

krishna

[SK MALIK]

DEPRICIATION OF RUPEE

One Rs defined by British equal to value of one Tola of Silver

One Tola weight equal to 11.6638 gms

Today 1 gm silver price Rs 44.535

One Tola Silver price Rs. 519.45

Rupee is depreciated by 519.45 times today.

 

NOW EARNING INCREASE

Indian Central Govt clerk was getting Rs 10 per month in year 1917

Present Salary is Rs 30, 000 per month

Increase in wages 3000 times

Effective increase in spending 3000/ 519.45  = 5.78

NOW INCREASE IN POPULATION

Population of India in 1917 was 25 crores

Present India population 130 crores

Increase in population 130/ 25 = 5.2

REAL GROWTH FROM 1017 to present 2014

5.78 x 5.2 = 30.1 times

3010 % growth is achieved due to Science/ Technology & Planning by our Govt

Majority of growth we achieved after independence

If we take our need & consumption to 1917 level all Indian will save 85 % of monthly income.

WE HAVE REDUCED HUNGER DEATH TO NEGLIGIBLE

NOW AKKAL OR MAHAMARI

WE ARE FEEDING TO 130 crores and land is not increased

WE SHALL BE PROUD OF OUR DEVELOPMENT

From: "sushil...@gmail.com" <sushil...@gmail.com>
To: "dwarka-r...@googlegroups.com" <dwarka-r...@googlegroups.com>
Sent: Wednesday, 8 January 2014 9:44 AM
Subject: Re: [Dwarka Forum-] One rupee eq to thirteen US Dollars!!!

It is correct Misraji.Even in 1947 one dollar was equal to 3.5 rupees.
This is the development we have done in our economy and still feeling proud.
Regards

Sent from my BlackBerry® smartphone

[Prem Bihari Mishra]

Such changes have occurred through out the world. Main thing is that worldwide economy is compared with the existing cost of US$.

Rgds.

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 ----P.B. Mishra