The Indian Economy has gone for a toss for a common man, but he is always calm. I wonder why the prices of groceries have risen in multiples. The price rise for cereals, flour and other daily consumables is ascending constantly. The Finance Minister is perhaps not able to offer a justification for the same.
Well, let us try to find something. It’s perhaps the population of India that is multiplying with the same pace so the supply is not inadequate. But, that’s not the case, we all know. Then, are we consuming more in multiples. Silly, we can’t consume three or four times of a product quantity that we have been since long.
Very interestingly, neither the Finance Minister not the Prime Minster seems to be concerned. And why should they be and what should make us expect so. Let’s face the fact that neither the House Lady of Prime Minister nor the Lady of Finance Minister is required to be bothered about their household fulfillments. For they have all things ready to them. And silly is the Indian Media that approaches these Ladies for their feedback on price increase and budget calculations.
I could not reach the exact statistics regarding the change of Price in daily commodities since 2007. However I hold firm thought that they have increased in multiples. Let’s consider the price of oil in international market. During October 2004 it was approximately $51 per gallon and went up to the highest mark of above $77 per gallon during the first half of 2006. The price of all the commodities increased drastically during this period and this was the just justification given by Finance Minister for price rise in commodities.
Then second half of 2006 onwards the ever rising pattern of oil prices witnessed a change. From the beginning of second half of 2006, prices declined below $ 55 per gallon. The graphs show the details.
The sad part, the Indian retail commodities never followed the above pattern. What to do with the ONE LINER justification given by Finance Minister. Seems no one is bothered.
The budgets are presented, the prices escalate and the silly TV channels reach the ladies of these politically, financially and socially sound people to know their reactions. Why can’t we check the budget of those homes that went for a toss due to the uncontrolled price rise? And why can’t Mr. Chidambaram feel the heat? Do we have people MISMANAGING our country who do not have senses the ones which are very common.
If the prices of oil in international market have come down, we must see the same pattern in Indian Petrol and Diesel prices. It never happened. The prices of vegetables, cereals, rice and wheat may have come down to at least a justified level. It never happened. The stockers have created a short supply and high prices. Retail traders have maintained high prices for they are now able to book huge profits on the same commodities with reduced prices. Isn’t it a complete neglect by the Finance Minister? Or shall we say, he is leading to a price escalation process which is out of control.
RESULT: The pattern has created a huge socioeconomic imbalance in our country. The people who are traders have multiplied their income many folds. The same didn’t go with the person drawing an average salary or earning, which is very low in India.
The rich are becoming richer and poor are loosing their struggle to survive. Instead of growth rate of India, Mr. Chidambaram should concentrate on the basics related to a common man. Let’s give it a deep thought. If things are not going the way they should, let’s try to change the faulty processes and things.
Good Luck.
