In India, during the Congress government led by Dr. Manmohan Singh, inflation in India has crossed all limits during the rule of the BJP, which made inflation a big issue and fought against it, but the BJP government at the center has not yet made any effort to reduce this inflation. Which shows how serious this government is about inflation. Now the Government of India has increased the prices of cooking gas by Rs 50 per cylinder and has imposed an excise duty of Rs 2 on petrol and diesel, due to which there is a possibility of further increase in inflation in India.
Congress and other political parties are alleging that the Modi government at the center is pro-capitalists and corporate, due to which its policies only benefit the rich and wealthy, while the common people are being ground in the mill of inflation. The situation has become such that instead of worrying about the rise in inflation in India, the pro-government media and the fanatics give examples of the rise in inflation in countries like America and Japan and say that goods are more expensive in those countries than in India. But such fanatics do not know that if every good is expensive in those countries, then the income there is also in dollars. The common people also know very well how many rupees one American dollar becomes in India.
Due to inflation, there are ups and downs in the country’s economy. Inflation also affects the livelihood of the people. Rising inflation in India is a very serious problem. On the one hand, the government talks about reducing inflation, on the other hand, inflation is increasing day by day. Today, it seems as if inflation in the country is touching the sky. Today, everyone is demanding to reduce inflation. But inflation is increasing year after year in the country. Strikes and agitations have been held from time to time to stop inflation, but still inflation has not come down.
Black money, smuggling and hoarding are inflation’s best friends. The worst impact of black money is on inflation and employment opportunities. It reduces production and employment opportunities and increases prices. Inflation is an issue that not only affects economic stability but also directly affects the lives of every individual. It affects our cost of living, our purchasing power and the overall economic condition of the country. Inflation means that the prices of goods and services increase over time, due to which consumers have to pay more for every item, which causes them economic loss.
Rising inflation is a result of the failure of the economic policies of the Indian government. The impact of inflation is far-reaching. It affects the poor and middle class the most because their income remains stagnant while the prices of goods keep increasing. Apart from this, inflation also affects savings, as people are unable to save their money due to rising prices.
Even now, inflation is continuously increasing in India, which is affecting every class. In today’s time, the income of the common people is decreasing, or is the same as before, but expenses and inflation are continuously increasing, due to which the common people are facing difficulties in purchasing essential commodities. Government figures regarding inflation rate say one thing, while the common people say something else. Sometimes the figures presented by the government or pro-government media show a decrease in the inflation rate, but inflation in the country has increased. Due to which the common people do not understand whether to believe the reports of pro-government media regarding the decrease in inflation or to pay attention to the increase in the cost of every commodity in the country.
A useful national policy is needed to reduce inflation. The central government should make concrete efforts to control inflation in India. In this regard, the government should make such policies, which, instead of increasing inflation, reduce it and make every commodity cheaper. Reducing inflation is essential to eradicate poverty.
