Economy, inflation and the common man
Posted by: rksadhu on: 2 July 2008
The idea to pen down my thoughts about these came while reading this Businessweek article “India’s Economy Hits the Wall”. Today, there are several news to ponder over than to feel happy about—depreciation in rupee, stock market crash and more importantly inflation. Every one of us have been hearing / discussing a lot about the current economic slowdown and inflation. The stock market swing seems to continue while the inflation is rising resulting in a lot of hue and cry about the country’s economy and its future. While the uncertainty about the high inflationary rates continues, and industry and individuals wonder about the ever rising oil prices, some experts term inflation threat to be exaggerated and temporary thus indicating that things would improve towards the third quarter this year. The article cited above criticises the congress-led UPA govt. for the crisis.
Blame it on anyone but the most affected is the common man. Inflation and rising oil prices have only gifted the common man with a possible imbalance in his monthly balance sheet. Oil prices on a high and RBI has announced a hike in interest rates. While the petrol and diesel prices have become dearer by 10 per cent, the oil companies opting to sell only branded and high power petrol and diesel has drawn lot of criticism. Moreover the public and transport system in several small towns are hit by the shortage of petrol and diesel. Added to this chaos is the indefinite nationwide strike by the All India Motor Transport Congress that will only make things worse. This will only lead to the consumer paying much more than what he is paying for vegetables and groceries.
Let us hope the inflation rate comes down very soon and, in more ways than one, helps the common man get both relief and respite.
6 Responses to "Economy, inflation and the common man"
Rise in inflation rate hits the common man and he is the one who feels the more pain. I don’t think the prices will go down. We should feel that we would be blessed if they don’t go high in the near future again.
@ Santhosh: The govt. is so busy with the nuclear deal and the forthcoming elections that it has little time to resolve these issues.
@Prasanthi: The prices will sure rise high but as u told, we can only hope for the best.
Yes, the common man in India is passing through a dark phase. Let’s hope that government takes serious measures and common man’s travails are addressed very soon. Let’s hope there will be light at the end of the tunnel.
UPA govt. is a mix of howlas and loafers and few good economists. So, we cannot expect any better things to happen.
@Santhosh: Eppudu vastunnavuraa office ki. Nee kosam vechi yunna ologist.
@Srinivas – We can’t expect good things to happen as long as India is ruled by Coalition governments, the reason being the govt. would depend on its allies for support.
@Vinay – Above all the masters and idiots is a woman who runs the show.
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1 | Santhosh
2 July 2008 at 5:15 pm
True, that inflation has made / will make life miserable for many. What needs to be addressed his how the common man can sustain when the inflation is not under control? This should also be treated as a calamity and necessary measures need to be taken by the government to ensure that the common man is not affected seriously by the inflation.