Biharis are poor, but bullish on sentiment | Number Theory
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That Bihar is among the poorest states in India and Biharis among the poorest people is well known. However, what is also remarkable about the state is that there have been no large-scale protests or even a change in government for a long time in the state. The incumbent chief minister, Nitish Kumar, has now been in office for almost 20 consecutive years. What explains this apparent contradiction? The translation between economics and politics is never as straight as some assume it to be. However, at least one set of statistics published by the Reserve Bank of India could throw some light on the issue: consumer sentiment in Bihar is quite high when compared to its poor income and consumption levels. Here is what the numbers show.
Biharis are poor, but bullish on sentiment
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