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KAVITA CHOWDRY
The Indian economy has been surrounded by rumors of recession lately,
but the common man still faces the harsh stretch of inflation in their basic
needs and is seeking answers and actions from the government.
The price rates of the basic staple food of the country continue to strike
high, amongst that even the fuel prices like petrol, CNG, and diesel join
hands which push the common man into the vicious gap of balancing
between their daily requirements.
As per economic researchers and economists, this year seems going down
the road as compared to the previous years because the annual inflation
rate in India jumped to 6.95 percent in March 2022, the highest percentage
since October 2020. On the other hand, the wholesale price index in March
at 14.5 percent, was the second highest since 2012.
Also, if predictions were to look at economics and the researchers claim that
this year is already facing high inflation of fuel prices. Also, as per the
current economic budget, the government has imposed 5 to 8% GST taxes
on different commodities, staple food, and many more. If you look into the
matter quite deeply we could see that day by day an increment in the crisis
affects the pockets of the common man not only in the urban area but in the
rural area as well.
In rural areas, people are still dependent on ration cards and other
illegitimate ways of earning food and other services so the rising prices
directly affect the people below the belt of the urban area that is the rural
area. Also on the other hand urban area, transportation prices seem to be
increasing day by day be it the normal auto rickshaw or Rapido ola or uber
services the high fuel prices are reflected in addition to the GST on every
stratum of the urban area starting from a daily wager to a student and a
normal employee, the hiked fuel prices are affecting their daily life. People
are expecting a lot more from the central government to take some relaxing
decisions but it seems quite hard for the government as well.
