Only part of your argument is correct,but the fact that a lot of Indians are spending crazy amounts on weddings seeing some big honcho hold big affair & end up saddled in debt.
The people you mentioned sure benefit,but to how much degree.Some of the bigwigs hire movie stars & dancers to perform at their weddings-these persons & their associates end up earing close to over 50,000USD for a 1 hour performance.How much do the chefs,janitors & others make??They would be very happy if they can make 5,000 USD in 1 year.
“The people you mentioned sure benefit,but to how much degree.Some of the bigwigs hire movie stars & dancers to perform at their weddings-these persons & their associates end up earing close to over 50,000USD for a 1 hour performance.How much do the chefs,janitors & others make??They would be very happy if they can make 5,000 USD in 1 year.”
No wonder your name is Sukhoi-30mki. Your view of economics is basically socialist.
Think of supply and demand - yes, a Bollywood star might earn $50k USD for a 1 hour performance. That is because there are only a few Bollywood stars and they are in high demand. Millions of people can perform, but they won’t be nearly as interesting.
On the other hand, $5000 a year is pretty good in India where many people earn less than a dollar a day such as in rural areas. Supply and demand... there are many millions who can make a decent idli or channa masala or whatever they are serving.
The Bollywood star who earns $50k, what do they do with it? They buy goods and services, moving the money throughout the economy.
I suggest you buy a book on microeconomics. Preferably by Milton Friedman or Thomas Sowell, though Adam Smith’s Wealth of Nations will do just fine, too.