As the nation today (August 15, 2024) celebrates its 78 years of Independence from the British rule, let's make a travel to know the value of Rs 10 then and now; and what they offered to understand the nation's economic journey. The value of Rs 10, what could once fill a bag with essential items in 1947 has now been reduced to a fraction of today's grocery baskets. Although, this is just a comparison, but the changes not just reflect inflation at one stance but also the economic progress, shifting lifestyle needs and much more.
1947: A Valuable Sum in a New Nation In the year 1947, the value of Rs 10 to an individual was a huge amount, capable of purchasing the daily necessity for an entire family. For example, back then, this sum could by atleast 5 kg of rice, 3 kg of wheat, 2 kg of pulses, a few kilograms of vegetables or a bottle of cooking oil, that is approx Rs 2-3 for each item or so. 1947: A Valuable Sum in a New Nation | Representative Image/Canva The country was newly independent and poverty at its peak, and the value of money was strong, a time when goods were produced locally with minimal global trade influence.
2024: Rs 10 as a Mere Token Let's fast forward it to 2024, and the same Rs 10 barely holds the same significance. With skyrocketing inflation and economy driven globalisation effects, technology advancement and urbanisation, this amount which then covered the whole daily necessity now covers only a small fraction of a single item such a half a bunch of cori.