Short Essay On Rising Prices In India

Price Rise or Inflation deeply effects the daily life of common man in India. Inflation is being considered as one of the biggest problem of India.

There has been a continuous rise in prices of essential consumer products such as grains, vegetables, cooking oil, etc.

The most obvious reason for price rise is the lack of availability of the goods in sufficient quantity. The government has inadequate mechanism to:

  • increase the production of the essential commodities to meet the ever rising demands.
  • fix and control the retail prices of these commodities.
  • prevent hoarding of essential commodities by greedy traders.

In India, there are inadequate cold storage units to preserve perishable crops. These crops perish and the price increases for the lack of supply.

The measures taken by the Government to arrest the galloping price rise is not sufficient. The Government does not have the required mechanism to effectively intervene and control retail prices of consumer products.

It is suggested that a Central Ministry to deal with the problems of essential commodity prices, standardization, and inter-State trade should be created.

Also read:Essay on inflation in India

No single ministry is at present fully equipped to check the prices of specific consumer products. The Government’s effort to influence retail prices by fiscal and monetary measures are only partially effective. Hence modifications in the distribution structures of consumer products were needed.

The Government has been accused of taking up the price issue in a leisurely manner. Central Government should give instructions to the STC, the FCI and the Civil supplies departments to speedily assist fair distribution of commodities.

The public distribution system is “totally unorganized” and the Kendriya Bhandars are not functioning properly at all. Most of the essential commodities are not readily available in the Government stores and consumers do not get the worth of their money.

Hundreds of medicines, which are banned in many foreign countries, are openly being sold in our country.

During the last few years, prices of many life-saving drugs had registered a rise. All drugs must be controlled by the Government.

The bureaucrats, businessmen, politicians and the consumers should come together to fight against the problem of price rise in India.

Last Updated: 18.03.2015

Category: National Issues of India

PROBLEM OF RISING PRICES

The problem of rising prices is the greatest economic problem of India today. The constant rise in prices is cutting the throats of millions today because millions of people find it hard to earn one square meal a day. Millions in India today sleep without food at night and wake up hungry in the morning to do their day’s work. But all their day’s work does not promise them sufficient to eat and drink.

No doubt it is a baffling problem throughout the world, still a developing country like India can only ill-afford it. It has and will further make poor poorer and rich richer and consequently will bring untold miseries to men of common means. Prices have become double in the last five years and many common things are beyond the reach of the common people. Even pluses have become a luxury and only the rich can afford them. Meat also sells at a fabulous price. More and more things are going beyond the pockets of the common people.

There are various factors that contribute to this rise in prices. Some are natural factors like unfavourable weather conditions which affect the food production and lead to the shortage of commoditiesin the market. With more money chasing less goods the prices take to the wings. Compounding this natural problem are other man-made problems like hoarding which contributes to the escalation of prices and the reasons are not far to seek. There is a craze for getting rich as quickly as possible. The industrialists, the manufacturers and the middlemen seek the highest profits and have no soft corner for the poor consumer and the purchaser. Big industrial concerns have become like economic empires and dictate their own terms to the common people. Some twenty families of Tatas, Birlas, Dalmias, Ambanis, Singhanias and others hold the country at ransom. They have tons of black money and they are running parallel government. Smugglers, industrialists and the black marketers are the real masters of our land. They hold police and judges as their slaves.

Apart from the natural and man-made factors that add to the price rise, the government is also at fault. It is increasing taxes on raw materials and finished products, thereby pushing prices to astronomical heights. It has been resorting to a deficit financing and printing currency notes by the tons. It has increased prices and the common man is paying for his needs through the noise. In the recent times the official rate of inflation has been hovering around 7 to 8 per cent.

To keep the prices of essential commodities within reasonable limits, the Indian government had constituted the cabinet committee on prices and special committee of secretaries on monitoring prices. These bodies monitor the prices and supplies of essential commodities regularly. Apart from these the Department of Consumer Affairs monitors the price of 12 essential commodities e.g. wheat, rice, oil (groundnut as well as mustard), vanaspati, sugar, arhar, gram, salt, tea, potatoes and onions on a daily and weekly basis.

Though the government’s steps to check rise in prices i.e. inflation are laudable  these measures will have a positive impact on the prices only if they are coupled with a massive drive against hoarders, black marketers and anti-social elements.

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