India: The land of lakhpatis
When I was a kid, for me the definition of Lakhpati was - "A person who owns more than one lakh rupees is a Lakhpati" . And yes at that time this definition used to hold true almost. A Lakhpati would be very rich, would have all which we used to call luxuries. You could find only a single lakhpati in a typical gali or mohalla. But as time passed, those luxuries have got changed into necessities and social label of a lakhpati have changed from Rich to Middle class. A lakhpati doesn't catch the eyes of people now as he used to. Its true that value of a lakh rupees have got diminished a lot. But for the diminished value of Lakhpati , its not that the rate of inflation is responsible. Its because of the fact that now lakhpati in the Indian gali/mohalla is not the only lakhpati in that gali/mohalla . The whole Indian middle class has taken a big step upward, changing the definitions of rich/poor/middle class. Welcome to India: The land of lakhpatis :-) Current So...