23 Apr 2021

Indian rupee in 1960 and today’s (2021) value

by ogadmin | posted in: Business, Education, Literary, Odisha Engagements, Once upon a time, Opinion | 0

In 1060 my college expenses were Rs. 40+20=60

What that timeXXXXXX

“The inflation rate in India between 1960 and today has been 7,597.21%, which translates into a total increase of $7,597.21. This means that 100 rupees in 1960 are equivalent to 7,697.21 rupees in 2021. In other words, the purchasing power of $100 in 1960 equals $7,697.21 today. The average annual inflation rate has been 7.26%.”

That means that 60 rupees in 1960 are equivalent to Rs. 4418. today. This included food and hostels (scholarship was covering student payment)

As a lecturer the Rs. 120+60 (DA)=Rs.180 means today it should be =Rs.26,408 per month. (Govt. Gazetted officer starting salary)

Reference 1