The Problems of the Government have Increased Due to Rising Inflation in India.
In India, if the general public buys anything, the fear of inflation is already troubling. Whether you go to buy petrol, diesel, LPG, PNG, LPG, etc. in the market, then the general public has to watch their pockets. Now the government is being surrounded by questions day by day. The inflation rate is running at around 7.1. The government’s concern is increasing due to the increase in retail demand in the market.
Retail inflation, as per MoSPI, stood at 7.41 in September.
Retail inflation in the month of September was higher than in the last five months. in which food and drink items jumped at a rate of 7.57%. In September, the same rate reached 8.41%. Pan Tobacco, Clothing, and Housing Oil excess has jumped at the rate of about 5% to 10.69%.
The Finance Minister says that in the next budget, strict steps will be taken to control Inflation.
On Tuesday, FM Sitaraman said that in the next session, we will work on increasing the economy by 7%. The government’s concern about inflation is clearly visible. Seeing this, it seems that all the government’s plans regarding the economy are showing failure. In the recent past, RBI has expressed its cleanliness and concern many times by holding press conferences.
The RBI has Increased the Repo Rate Twice.
In view of high inflation rate, the RBI has increased the repo rate twice this year. The first was 40 paisa and the second was 50 paisa .LCThis is also the reason for the increasing concern of the RBI. You will remember that in the year 2020, due to the lockdown due to COVID, our economy saw a decline of more than 23%.
The Recent Incessant Rains caused Heavy Damage to the Decisions.
Due to the recent incessant rains, a lot of crops have been damaged. The effect of which can be seen on increasing demand. It is also possible that in the coming days, food items like cereals and rice may have to face inflation. According to the recent survey, inflation has shown its effect in the village as well. Inflation has reached 7.56% in the village. The inflation rate in cities is running at 8.65%
