The 11.05 per cent inflation is a matter of serious concern for the common man. It is a shame that despite having a renowned economist as Prime Minister, inflation has been allowed to grow at such an alarming rate. It is the result of wrong policy decisions taken by the UPA government in the name of globalisation.
Inflation can be arrested if the government bans futures trading; goes after the realtors who are instrumental in triggering inflation (property worth thousands are being bought for lakhs); imposes taxes on brokers who have reaped windfall profits so far; puts off the massive debt waiver plans and diverts the amount earmarked for current fiscal to supply essential food items at a normal rate; bans the conversion of agriculture lands into factories, residential and commercial properties; and makes agriculture more respectable by honouring small and medium farmers with special citizen status.
S. Ramesh Karthikeyan,
When inflation crossed double digit in 1995, Prime Minister P.V. Narasimha Rao said it was the beginning of the liberalisation era and that India would become a great economic power within 10 years. Today, our Finance Minister says the inflation is the result of fuel price hike. How easily he abdicates his responsibility!
The UPA government will be the biggest loser if it fails to contain price rise. The repercussions will be felt in the coming elections.
The government’s policies excluded aam aadmi and were biased towards the elite sections. Had food production been given timely consideration, we would now have been in a better position.
Kapil Kumar Singh,
The Prime Minister knows the implications of rising inflation and the Reserve Bank of India is sure to come out with more bitter pills. It is time to declare a state of “economic emergency” and cut unnecessary government expenditure. It is apt to recall Lal Bahadur Shastri’s example of sacrificing a meal when India was faced with acute food shortage.
The runaway inflation is not good news on the eve of elections. The Centre should prevail upon the States where the rate of sales tax on petrol and diesel is high and bring it down to four per cent, and make it uniform across the country.
Why attribute the general rise in prices and the spiralling inflation to externalities? Can one rule out the abysmal level of agricultural production and too much disposable income in the hands of a section as significant endogenous causes of rising prices?
The single-point agenda of the Prime Minister, at a time when he should be concentrating on containing the runaway inflation, is baffling. The U.S. government is only too eager to claim that the civilian nuclear deal is in the interest of India’s energy needs. Should the periodical ramblings of U.S. officials take precedence over the considered articulations made by the main supporters of the government? It is hoped that the Congress and other constituents of the United Progressive Alliance will take control of the fluid situation and prioritise the immediate tasks, instead of allowing vested interests to wreck the remaining term of the UPA.
How unresponsive the government was to the invaluable suggestions of the Left parties to control the prices of essential commodities and to roll back the hike on petroleum products. The Congress refuses to draw lessons from the defeat in many byelections and in the elections in Gujarat and Karnataka and other States.