EMI - The Eternal Misery Invited

A short story of shortchanged youth of India

With Globalisation and Liberalisation, it appeared as though all our past sins have been wiped out. We felt we were airlifted to a land of Paradise.

Our young ones got absorbed in the campus itself. The demand grew so much that at one point they wanted only able bodied young men and women with Reading and writing skills. Nothing more. The IT companies somehow felt that they were from a different planet with extra ordinary bio engineering skills with which they can manipulate the DNA of the mortals of this Planet to get IT reflexes even from the ones who did Botony or Biochemistry.

The marriage market is the best indicator of the market value . The going rate for dowry for IT guys should be 'heard' (from Andhra) tobe believed. All roads were leading only to the IT station.

And our folks went overboard. What their fathers couldnt earn even at the end of their career, these kiddos got as campus offer in the last year of their grad itself. The old serving men started losing importance in the home front from their respective spouses, who shifted loyalty overnight casting their votes in favour of their neo-rich young children . The response for the loving "Sunti Ho" from these A.K.Hangals stopped from the spouses. Low earning poor fathers became the first victims of the IT boom.

It seemed as though the party would never be over. We reached a point of including 'IT and computer' in the syllabus of even Nursery schools.

Except National Anthem we changed everything to include key words IT and Computer.

This Richness didnt turn into Real wealth. They all were in a tearing hurry.They discounted their future Pay Slips to live as on yesterday. The 'uncertain' future was depended on to fuel the 'certain' todays. And that mismatch did it in.

A guy in Bhandup with 1000 sq.ft flat would sell it and move 10 min drive southwards to Chembur and buy similar 1000 sq.ft flat in a tower, paying additional 30 lacs. increasing the EMI by 30-35k. per month. Extrapolate this and you can more or less state the cases of the most.

Essentially it amounts to paying 35k p.m. to save 10 min drive or thereabouts. The only excuse is - "You see it is a modern tower. The price appreciation will be much higher someday."

Now when the market tanked, the EMI remained where they were,while the property prices nose dived. Jobs became shaky.

Everything has become uncertain. Except of course - month after month, the ghost that haunts with sickening regularity called - EMI- Eternal Misery Invited or you can simply call it- Every Month Irritation.

The entire youth of the nation is now EMI-struck in some way or other. A new version of bonded labour. In many cases it is the amount of the evaporated value of the property bought whose value tanked.

Now the doting mothers who felt that they produced wonderkids without any contribution from their spouses, started replying in low tone to the A.K.Hangals' "Sunti Ho" with their erstwhile familiar lines -"Kyon chilla rahe ho. Idhari tho hun."

They dont understand economy or stock markets. But all that they see is their smart Munnas are not jubilant as before. They keep asking estate agents about the prevailing price almost everyday. They keep using the word EMI in hushed tone while talking to their pals.

The job has become painful. Bosses are making faces. Revenue targets are not reached. Salary cut is round the corner. Changing the job would mean ensuring a min.salary covering the stupid EMI-The millstone round the neck.

It is as though EMI is certain. Life is not.

Now the 1000 sq ft flat has also fallen in value by 25%. But the EMI remained where it was. Selling the flat would mean loss. And where to go. What will the relatives think. (as most of them live a relatives-centric life).Also whatever left over has been given to the Portfolio guys who promised astronomical ROI but now dont even lift the phone.And now when they say ROI, it is Return Of Investment. Not Return On Investment as it meant before.

It is as though the entire Youth of the nation has been short changed.

Youth is the Source Code of a Nation. The Nation which fails to protect them will get hacked.

This nation has a Uniqueness. It can be enriched only through Spiritual Inputs. Never with Material prosperity. Even at $ 1 trn GDP, 10% growth rate and trade surplus, Material Prosperity will still be in pockets stunted by sheer outgrowing no.of Native Indians...

Jai Ho....