The “Inflation” Effect

  • SumoMe

The United Progressive Alliance (UPA) has completed almost four years in the office. Kudos to them for providing a stable government so far. The growth rate has been approximately 8.5 per cent according to the various reports. I don’t know what exactly this term “growth rate” means, but I have observed many changes in my daily life. The change has been very significant in the last few months post that populist budget.

Surging prices of vegetable, fruits and pulses hit the common man hard while dearer steel and metals pushed the inflation to a 40-month high of 7.41 per cent, prompting the government to take more price control measures like ban on cement exports, and now may be ban on steel exports as well. “Whatever I make, must be affordable to the common man.” These were the words of Chinni Krishnan, who is acknowledged as the father of the sachet revolution in India. But is the common man’s problem being addressed in our country?

Being a student and living in the hostel, I need to manage my expenses well. Previously, my daily expenditure was Rs. 100, which has increased to Rs. 150 now, despite my having cut down my expenditure on some fronts. I have to ask my parents to deposit more money in my account now. My father, who has taken a home loan, has to pay more Equated Monthly Installments (EMIs) and the return period has gone beyond his retirement. The college has increased the fees citing more expenditure. The mess fees has increased following the rise in essential commodities such as vegetables, edible oils, etc. In all, my life has changed a lot in the last few months. It is not just me; in fact, all of us must have faced the heat of rising inflation week after week. The condition of the people who depend on the daily wages is much more pathetic because they are the first and the worst victims of inflation.

Despite this growth rate, the common man’s problems are not attended to. The cup of woes of the common man across the country seems to have reached its brim, with rising prices of fruits, vegetables and other essential commodities leaving a deep hole in the pocket, forcing us to re-frame his already back bending budget.

This is an issue, which is core to the Indian government right now as it knows that the soaring inflation, if not curbed will eat away the entire success story (if any), which it has woven since the past four years, certainly something it does not need when it is going to the polls. The Prime Minister has said that the government will try their level best to curb the inflation but that has not happened till date. The government needs to curb the growing price at the earliest; else it will have to face the consequences in all the upcoming elections scheduled later this year.

This government is definitely by the people but not for the people. I say that whatever reasons the government might give for inflation but the end of the story is that the common man does not have either the time or the money to read or know about that reasons. The failure to curb price rise and inflation has been a major blot on the government totally neutralising the 8-9 per cent growth rate. As the UPA completes its fourth year in the office, the government headed by PM, Manmohan Singh, may be known more for what it has not been able to achieve rather than what it has.

Rishabh Srivastava

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