Concerned about India’s soaring price Scenario!!
Posted by Fariba Iqbal
The primary cause is the rising prices of essential commodities. The prices of domestic items are skyrocketing and three square meals a day has become a distant dream for many of us. The drastic changes in the economy invariably lead to hike in prices of commodities. The increase in the prices of petrol and diesel tends to affect the entire economic structure of the nation.
The trade, industry and agricultural sectors are put at stake because the prices of petrol govern the life of the common consumers.
The spiraling inflation do not have any impact on the elite sections of the society.
It is the middle class and the people living below the poverty line who have been hit hardest.
With the liberalisation and globalisation, there has been an increased entry of multinational and other corporate giants. The government should ensure that the rich should not enjoy these services at the cost of the poor. To ensure equity, higher taxes should be levied on these companies and indigenously produced options should be encouraged. This will ensure a minimum level of quality of life for the lower socio-economic groups.
The government should also seriously boost the marketing and sales of its own agricultural produce. This will ensure a favourable environment for domestic agricultural growth and will help in overcoming this problem and avert its recurrence in the future.