We feel surprised when we think of the low prices of 1950s and 1960s. It is quite natural because prices have sky rocketed. When you learn that the same loaf of bread which you purchase for 40 rupees was available to your grandfather for 25 paise you are bound to be surprised.
The fact is that it is the purchasing power of rupee that has gone down sharply. People in those days had less money with them as salaries in those days were low .
The STARTING salary of a peon in the early sixties was Rs.70 , of a lower division clerk Rs.110 rupees, assistant in Central Govt.Secretariat Rs.210, of a class two gazette officer Rs.300 rupees and of an IAS officer Rs.400. This was the monthly basic pay at the start of the career.
Today a daily wages labour earns more money IN A DAY than what a young IAS officer used to earn in a FULL MONTH in early 1960s.
Items of daily uses were much cheaper then. People needed less money to buy them.The Rupee was very strong in value.
It is fascinating to read stories of those days and see the phenomenal purchasing power of rupee. Who will not be surprised to note that in 1949 1 Tola (about 10 grams) of gold cost Rs.87 and 8 annas, best quality almonds at Rs 4/-per kg (seer) and high quality basmati rice at Re1.25 per seer(seer is almost equal to a kg.).
But what is equally interesting is that old people in those days used to grumble that the prices had gone up very high !! And they were right. Things were far cheaper in 1930s. See the receipt dated 29 Sept 1931 for petrol (see photo)
. Eight imperial gallons of petrol for Rs.9ans 8 annas translates to 26 paisa a liter of petrol. And, just as an example of how low-priced things were, I may mention that my father purchased his first bicycle when he was in his teens in 1930 for a sum of rupees 28 only and the bike was imported from England - the famous Hercules bike. It came fitted with a belly, a dynamo driven front electric lamp and a red tail light, a carrier, a hand pump, chain guard and bicycle stand.
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