In the chart sent by me earlier today, there was an error in the depreciated value of the financial asset shown in the last column.
I have rectified the same and the revised chart is sent afresh.The actual erosion as per the correct calculations is much more than I had indicated earlier.
The average compounded rate of inflation during the last 23 years was 6.8% p.a and the average compounded rate of erosion in capital value of a financial asset was 6.3% p.a. As a result ,the erosion in the value of basic pension is much more than what I had calculated earlier.
Greetings.
C H Mahadevan
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