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.
Also read: Essay on inflation in India
It is suggested that a Central Ministry to deal with the problems of essential commodity prices, standardization, and inter-State trade should be created.
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.