[mindentropy]

The reason Taxi cab drivers are earning good salaries is a combination of demand from the IT sector employment and VC money throwing. If by any chance Ola or Uber loses funding or leave the market their salaries will reflect the market value in the economy.

In the 2008 bust a lot of Taxi drivers lost their cabs and there was a massive inventory of it. Luckily Ola and Uber came along and the demand picked up. This time they might not be lucky.

This is what happens when you are in a service based economy. If India does not create industries here or encourage small and medium scale businesses to flourish then they are going to see a lot of problems. Encouraging monopoly is the last thing they should be doing and should break up some of the massive companies to encourage smaller players to rise. This is just one of the things but there are so many basic things that the Government has to improve and they are really late in the game.

Higher education will only get costlier and more and more people will fall in the debt cycle. Hopefully people become financially prudent and find better ways of making money rather than depend on big corporations to provide employment.