In this week's wrapup, we will talk about cashless economies, safe havens, diesel cars, electric cars and the water crisis plaguing India.
Why a cashless economy might be better?
On Monday, we talked about the advent of a cashless economy. People are wary of handling physical currency even since COVID infections started surging in this country.
Cash-loving Indians are now switching to digital payments everywhere. But why is everyone so happy about this
And this is great- because paying with cash comes with a lot of hidden costs. And you can find out all about them here.
R.I.P Diesel Cars?
On Tuesday, we talked about the inevitable decline in production of diesel vehicles. Even though diesel cars are more expensive than their petrol counterparts, they have always been extremely popular in India. The reason—diesel trades at a steep discount to petrol. And since it's also used in industries, trucks, generators etc, the government regulates its price whilst keeping taxes low. Also, diesel engines use less fuel and can travel greater distances, offering consumer better value for money.
However, despite all this, India's largest carmaker, Maruti Suzuki, recently announced that they see absolutely no logic in developing a small diesel engine. But why? Find out here.
What rich people do during a pandemic?
On Wednesday, we talked about the rising interest in citizenship investment programs.
Citizenship-by-investment is a very unique scheme. In most cases, select countries offer you citizenship or residency in exchange for a sizeable economic contribution. In other words, you pay (a lot of money) to acquire a second passport for countries like Malta, Austria, and Cyprus.
And interest for these programs have been growing like never before. To know more, click the link right here.
Finshots Special: Understanding the Tesla Rally
On Thursday, we discussed Tesla's astounding rally. A few weeks back Tesla's share price rose to a record ~$1,100, taking the company’s market cap to an incredible ~$209 billion. This put Tesla roughly $6 billion ahead of Toyota, making it the most valuable automaker in the world!
But what really propelled the company's stock price to such stratospheric levels? That was the big story and you can read about it here.
The Water Crisis Explained
On Friday, we talked about India's profound water crisis. Almost half of our country's 1.3 billion population is facing some degree of water stress, and about 200,000 die each year because they lack access to safe water.
A large part of this problem can be attributed to agriculture, since nearly 90% of all our groundwater resources are diverted back to the farmland. And the thing is, a lot of this water is used to cultivate crops in quantities that far outweigh local demand. So why is this happening? Find out here.
That's a wrap from us! Have a great weekend.