Inflation And The Common Man - Early Times Newspaper Jammu Kashmir

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Inflation And The Common Man

7/5/2021 12:14:19 AM

Inflation is an eco-
nomic phenomena and it
is the situation of continuous rising of prices in the economy. Thus constant rising prices and the rise in the remuneration of the factors of production is a consequence of the rising of the prices. But the increase in remuneration of the factors of the production is found in the trade cycle of boom. So the rising of the prices is not always fallowed with the rise in the remuneration of the agents of production. Inflation is a bad phenomenon and it affects the purchasing power of the people especially the common man and thus it is not a desirable phase of the economic activity. Rising prices affects the pocket of the common man and it is an assault on the back of the poor people who face much difficulty to make both ends meet due to the continuous rise in the price levels. These days India is afflicted with the problem of the continuous rising prices and it is a matter of concern to the average man and the economists and efforts should be made to control the rising prices but it is crystal clear that the government of the BJP does not care to control the price rise and give a succour to the common man. In fact the continues rise in the price levels affects the purchasing power of the man in the street and due to the rise of the prices of the goods and services he is left to fend for himself. These days the prices of the necessaries of life are rising very fast and it has made a hole in the pockets of the commoner as they find it difficult to make the both ends meet. The skyrocketing prices are a cause of great hardship to the poor people and efforts should be made to arrest the rising prices of the items of the daily use .The soaring of the prices of the items of the daily use leads to the hardships to the poor people who find their budgets not in tune with the rise in the price levels. The rising prices of the daily use goods and services is a matter of concern to the commoner who finds it very difficult to purchase the items of daily use as the market is brimming with the rising of the prices. The continuous rise in the prices of the fuels is a grave situation as the rise in the prices of the diesel and petrol leads to the rise in the prices of all other goods and services and it leads to the inflationary pressures in the economy as the prices of all most all the goods rise beyond imagination and it is a drain on the economy and as such should be checked to give a relief to the poor consumers. The continuous rise in the prices of the edible oils. pulses, shampoos, detergents, floors and other essentials of daily use are threatening as it affects the pockets of the poor consumers. Similarly the constant rise of the prices of the domestic gas is a cause of concern to the average Indian as they face much difficulty in the purchase of the gas which is required in every kitchen and it is a cause of difficulty to the woman folk who find their budgets not commensurate with the rise in the price levels. The continuous rise in the prices of the items of the daily use confronts all of us particularly the poor consumers whose back is broken by the rising prices. The rising of the prices is in fact the loot of the pockets of the people especially the poor consumers and as such is a undesirable situation and it should be guarded against to save the poor from the hardships and difficulties. In fact the rising of the prices of the goods and services should not be allowed to go unchecked but instead the prices should be controlled for the welfare of the society as we are living in a welfare country and it is the responsibility of the powers to combat the rising prices to give some relief to the poor consumers. But here we are wanting as the powers give a free hand to the unscrupulous businessmen in the perfect competition which is in fact far from reality. It is imperfect competition among the producers which rules the business world and it leads to the rise in the prices of the essential goods and services and the government of the day should take steps to control the rising prices. Increasing the bank rate of interest and open market operations by which the government floats the bonds and sells them to arrest the rising prices. Rationing and opening of the fair price shops is another way to control the prices but it seems that our government is not sensitive to the rising prices and is not interested in the control of the prices to give some relief to poor consumers. In our democracy the powers take some steps to arrest the trend of rising prices only during the elections and leave the space open to the dishonest businessmen to loot the consumers. Whatever it is but the fact is that the continuous rise in the prices of the goods and services is a drain on the poor consumers and the prices should not be allowed to rise in the interest of the poor people. Any way what is needed is to arrest the continuous rise in the prices of the essentials to give some relief to the consumers so that they can purchase the items of the daily use without any difficulty. To conclude we can say that the inflation is not in the interest of the economy and as such should be controlled in the interest of the common man.

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