Figure 1: (left) Screen grab from Urban Clap app showing haircut prices, (centre) Sugarcane juice at Rs 20 in Bannerghatta Park, (right) Sugarcane juice at Rs 30 in Bellandur, Bengaluru Urban

IS IT TIME TO RE-VISIT INDIA’S EXCHANGE RATE POLICY? By Ram Iyer

I remember visiting India in July 2014 after a five-year hiatus and paying Rs. 250 for a haircut in a Mumbai suburb. In January 2023, I visited the locality again and a haircut cost me the same Rs. 250. I am reasonably certain that the barber didn’t charge pro-rata to account for my much-receded hairline over the last decade. This observation could be termed anecdotal. The below snip shot from the app Urban Clap has haircuts prices at about Rs 250 as well. Why have haircut prices not increased in…

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