Soaring Prices!

The Aam junta campaign has got a tight slap. Nothing today is available for the common man. The prices are soaring so high day in and day out that each available commodity in the market is out of grasp for the common man. Neither the politicians nor the economic experts in a country of over one billion people could think of measures to understand and subsequently reform the situation.

The following might throw up some light on the increasing prices:

Petrol – Rs 8 to Rs 56 in 20 years

Diesel – Rs 41

Kerosene – Rs 13

LPG – Rs 366

Edible Oil – Rs 65

Onions – Rs 60

This is the price list of few essential commodities that are used in households on a regular basis. A few reasons that come up pertaining to price rise would include Liberalization, Hefty salaries in private sector, reckless consumption, opening up of markets and most importantly breakdown of regulations. In addition, Taxation and deadly corruption are two flaws in the system that have shot the prices to the zenith.

The present situation of inflation gone up by 8.43 percent recently. Though the bureaucrats claim that the situation is out of control. The common man is still waiting for some light at the end of the tunnel. In a country having a great economist as the prime minister, it is an irony that our government is not yet ready  to handle the problems that come up in our economy. Let’s not play the blame game here but look at solutions instead.

Apparently it is not only the common man’s home that is affected but also the industries at large. The increasing prices of raw materials are a setback to the industries that do large-scale production. This might hit the economy at large. The visible difference between demand and supply also leads to smuggling and black marketing. So it is a fact that this inflation if not curbed can lead to serious consequences.

It is not true that the government has not tried to curb this menace but every failed attempt is in itself a blow to the economy. Some of the measures that the government has taken upon are review of import and export of all essential commodities on a regular basis, intensified purchase of essential commodities by Public Undertaking Schemes to protect farmers and is strengthening the Public distribution system, encouraging investments in supply chain, an inter ministerial group etc. It has to be made sure that the supply and demand go hand in hand in order to remove any discrepancy between the consumer and the supplier.

The prime minister recently gave a statement that he was no astrologer to predict the price rise, but is not it an economist’s lookout to control and stabilise the country’s economy? How much it seems to be the responsibility of the authorities in charge, it is also an obligation for the citizens to play a part in this. Not encouraging black marketing, dissuading corruption at each level and encouraging agricultural productivity would be an important step that the common man can take. Afterall its our country and our economy, so instead of playing the blame game, the people as well as the bureaucrats put their feet and minds into their work and maybe we can see price hike as a thing of the past.

Ankita Nayak

Image Source: []