Indian People and Price Hike

Barun Mayanglambam *

General Strike against Petrol price hike in Imphal on May 31 2012 :: Pix - Bunti Phurailatpam

Price hike (Inflation) is the talk of the day of the common people of our nation. We the common man (mango people) is facing the situation of skyrocketing prices hike of whatever essential items which we require for daily consumption.

There are various reasons like namely global price hike of fuel, cost push inflation, demand pull inflation etc. One of the major reasons is that, living standard of our middle class families which constituted around 13.1% of our population (160 millions individuals) is rising day by day i.e. getting richer and richer, consequently, price hike of all the commodities also follows steadily due to demand pull inflation i.e. more consumers in case of lesser number of commodities.

A Few years back, the economy growth of our country was maintaining the growth rate of around 9 %, which was the second highest growth rate in the world. Presently, it is not in the promising state and is on the verge to face another market down (Recession), if not rectified within the earliest possible span of time period.

So, the government is trying to make it corrected by adopting whatever measures possible in order to avoid it. As per the expert advices, the fiscal deficit of the state should keep at 5.1% of GDP by controlling the subsidy under 2% of GDP, which is possible by minimizing plan and non-plan expenditures of our state on the one hand and maximizing the income on the other hand.

One of the option, the government is trying to adopt is to cut down the subsidies which was availed in the items like petrol, Diesel, LPG, Fertilizers etc. That means, we the Indian people are going to face another hike of prices again and have to suffer from it unavoidably.

The High/First Class citizens of our society whatever field he belongs will not be perturbed since they are secured, guarded from all possible angles. Secondly, Government servants and working classes who are employed in the organized Sectors/PSUs/Govt. Sectors with all the available allowances will be the less Sufferer in case of price hike since their pay/remunerations will make it normalized for certain.

Moreover, definitely Traders, Manufacturers and other businessmen will also practice their profit-equipped brains and make their Commodities/products pricer in order to avoid losses from all the possible 3 dimensions. The more impact will be knocking at the doors of the poor unorganized-sector Workers, Labourers, Daily wage earners, Destitute, Slum dwellers, BPL families (37% of Indian population) etc. who are the other faces of our very owned country India.

Meanwhile, constitutional bodies like CAG is coming up with all the exploding reports depicting the theory of losses like Common Wealth Games, 2G spectrum, Coal gate Scam etc., market value, amounting to around Rs.3.76 lakh crore which if, in case, the government use constructively, the damn fiscal deficit can be avoided to some extent for sure. Thereby, the inescapability of cutting down subsidies which impact the common people (Aam aadmi) can definitely be evaded.

So, In our opinion, the cutest fashion would be the rulers of our nations namely politicians, bureaucracies, Executives have to govern our country in the way that the snake will also be killed and the cane should not be broken as in one of the corroded/outdated proverb.

Rangde Basanti…Jai Hind…Inquilab Zindabad.