Inflation erupts on the back of rising gas cylinder rates

Once again, inflation has broken the backbone of the general public. Over the last few months, inflation in the country has been on the rise. Inflation has peaked. As a result, the central government is also facing criticism. Similarly, instead of declining, inflation seems to be rising again. The prices of petrol-diesel, food and other consumer goods have gone up sharply. Now there is no hole in the pocket, but it seems to be empty. The RBI had earlier held a surprise meeting a few days ago to raise the repo rate due to rising inflation. This will increase the interest rates on loans taken by the people. From March 22 Petrol-diesel prices have been steadily rising. The price of LPG cylinders has recently gone up as the general public is facing rising prices of petrol and diesel. The price of a domestic gas cylinder has been increased by 50 rupees. The price of LPG used for domestic use has gone up by thousands. Now the increased rates of cylinders are enough to empty the pockets of the common man. Already, due to the Corona epidemic, the per capita annual income of the country's citizens has come down from 1.26 lakh to 99,000. Those who want to save the common man from inflation are raising their hands in the wake of the Ukraine-Russia war and global inflation. Instead of tackling inflation, efforts are being made to engage the masses in religious issues. The people, however, want an answer as to when this trap of inflation will be released and when they will be able to breathe freely.

The global economy is now slowly coming out after the Corona outbreak. At the same time, the demand for energy is increasing worldwide. However, due to increasing demand, no concrete steps have been taken to supply gas, which has led to a significant increase in gas prices. After the hike, the price of a domestic gas cylinder has gone up to  999.50 rupees. This will reduce the budget for the house. Earlier, the price of a subsidized gas cylinder in Mumbai was 949.50 rupees. The last time the price of a domestic cylinder was increased was 50 rupees on March 22. So there was no increase in April. Commercial on April 1 The price of a cylinder had gone up by 268.50 rupees. In Delhi, the price of a 19 kg commercial gas cylinder rose by 102.50 rupees to 2,355 rupees per cylinder. Petrol has gone up from 111.81 rupees to 121.3 rupees a liter and diesel from 93.5 rupees to 104.06 rupees a liter. This is the second increase in six weeks due to rising international fuel prices. The petrol-diesel price hike has led to higher prices for all goods and services, from food items.

                         The cost of transporting vegetables , rice and flour has gone up. Soybean, soybean oil prices hit new highs It has to be said that the taste of cooking has deteriorated due to the high cost of edible oil. Edible oil prices have gone up by 30 per cent in the last one year  Have increased by 60 per cent. In January 2022, the price of soybean oil was 132 rupees per kg. Today, the same oil has become 164 rupees per kg. Palm oil has gone up from 124 rupees to 162 rupees. Peanut oil has gone up from164 rupees to184 rupees per kg and sunflower oil from  140 rupees to 174 rupees per kg. The same is true of pulses. Tur dal of  88-95 rupees per kg is being sold at 100 rupees to 104 rupees today. Green dal has gone up from 84 rupees to 85 rupees to 98-100 rupees. A gram of dal was 58 to 60 rupees per kg. The price of pulses has also gone up and today it is 65 to  68 rupees per kg. Urad dal has gone up from  90 to  96 rupees to 100 to 102 rupees. Lentils at 85 rupees per kg are being sold at 90-92 rupees per kg.

                     Hoteliers are being hit hard by the huge increase in gas prices for commercial use. Therefore, they have to pay more for gas. So now hotel meals are also going to be expensive. Hoteliers are set to raise rates by 20 per cent . Hoteliers have said that it will not be possible to provide meals at current rates during this period of rising inflation. Therefore, the cost of hoteling is likely to be beyond the reach of the customer. Now the prices of sweets and other food items available in the market are also likely to go up. Many traders are now reacting to the drop in business profits due to the fuel price hike.

The rising cost of living has led to an increase in wedding expenses. The wedding is going on from April to June. Wedding festivities are in full swing. Weddings this year are going to be expensive. Everything from booking a marriage hall and banquet hall to catering and clothing has become expensive. According to traders, wedding expenses have gone up by 25 to 30 percent. Eggs are likely to become more expensive as poultry feed becomes more expensive. The price of bird feed has gone up by about 60 per cent. Egg prices are likely to go up. Production cost of one egg 4 The rupee is 50 paise. The sale is at Rs 3 40 paise.

The global financial crisis is not over yet. The Ukraine-Russia war has added to the instability. This is a very difficult situation for small economies. There are short-term and long-term options for controlling inflation. If short-term options are to reduce inflation, supply chain shortcomings must also be reduced. There are currently several intermediaries involved. They are not really needed. If the farmer's goods reach the consumer directly, the prices of commodities will go down many times over. This will benefit the farmers as well as the common man. Because often ten times the price paid to the farmer The price is recovered from the retail customer. This will help to change the situation. Another way to control inflation is to reduce taxes. Many food items (e.g. rice , meat, etc.) are subject to 60-100% import tax. If it goes down, prices will go down automatically. Farmers have to pay exorbitant taxes to the market committee. Reduce it. Eliminate taxes on certain foods. Delete toll, entry tax. Items will automatically become cheaper. The minimum base price is increased every year. The less it is this year , the better.

Emphasis should be placed on the agricultural sector to overcome rising inflation. If the industrial sector is given a boost, the employment in it will increase, as a result the money in the hands of the people will increase. The industry sector has been stunted in the last few years. He needs to be encouraged. As food prices rise, so do the prices of other commodities. Therefore , there is a need to control the prices of agricultural products . Some long term measures can be taken for this. E.g. There is a need to increase the productivity of the agricultural sector. Considering the global average , our production capacity is almost half. It is imperative to increase it. This requires variety in crops, Use state-of-the-art technology. At present, sugarcane grown on 3% land in Maharashtra consumes 60% water. This needs to change. The most important thing is water management. Our agriculture is still heavily dependent on rain water. Most of the rainwater goes to the sea. This situation must change. The country's oil exploration opportunities should be maximized. At present such efforts are being made in the Krishna-Godavari valley. At the same time , oil could be found in the Bay of Bengal and near Myanmar, say some experts. Efforts should be made in that direction as well. So as to reduce dependence on oil imports.

-       -    Suresh Mantri.