Fuel Prices and Cost of Living
The inflation figures periodically released by the Central Statistical Office under the Union Ministry of Statistics and Programme Implementation are so distant from the real situation prevailing on the price front that they do not deserve any serious debate. It is a fact that the inflation data conceal more than what they reveal.
Triggered by the consistent hike in fuel prices, the prices of almost every commodity are consistently on the increase, making life itself an economically unviable proposition for the vast majority. There is an alarming mismatch between the increase in the cost of living and the income levels of the vast majority of people. All sections except those who get high salaries and perks or hefty pension or have some other regular sources of high income, or a thriving business or professional practice, are feeling the brunt of the skyrocketing prices and cost of living. The sections whose only source of income is interest on their investments, particularly bank deposits, has been drastically affected with the interest rates continuing to nosedive.
Nevertheless, there is no state intervention to ease the situation on the price front. The movement of fuel prices in India is not at all in tandem with the global crude oil prices. The fuel prices are moving upwards with a feverish pace to hit the stars and affecting the price of almost all commodities. Deregulated fuel pricing has only aggravated the situation.
It is high time that the central government initiated some meaningful steps to take the reins of the price rise in general and fuel price rise in particular for making common man’s life less miserable.
The inflation figures periodically released by the Central Statistical Office under the Union Ministry of Statistics and Programme Implementation are so distant from the real situation prevailing on the price front that they do not deserve any serious debate. It is a fact that the inflation data conceal more than what they reveal.
Triggered by the consistent hike in fuel prices, the prices of almost every commodity are consistently on the increase, making life itself an economically unviable proposition for the vast majority. There is an alarming mismatch between the increase in the cost of living and the income levels of the vast majority of people. All sections except those who get high salaries and perks or hefty pension or have some other regular sources of high income, or a thriving business or professional practice, are feeling the brunt of the skyrocketing prices and cost of living. The sections whose only source of income is interest on their investments, particularly bank deposits, has been drastically affected with the interest rates continuing to nosedive.
Nevertheless, there is no state intervention to ease the situation on the price front. The movement of fuel prices in India is not at all in tandem with the global crude oil prices. The fuel prices are moving upwards with a feverish pace to hit the stars and affecting the price of almost all commodities. Deregulated fuel pricing has only aggravated the situation.
It is high time that the central government initiated some meaningful steps to take the reins of the price rise in general and fuel price rise in particular for making common man’s life less miserable.
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