Albeit the BJP government led by Prime Minister Narendra Modi came with a promise of Achhe Din, which primarily was considered to be prices of essentials well under control but after nine years of the NDA Government, things seem to be slipping out of hands with skyrocketing inflation mocking at those who promised to tame it way back in 2014.
One can say that the alarming surge in inflation has reached critical levels, affecting people across the nation. Urgent measures are needed to curb this upward trajectory. Government must take steps on war footing to implement targeted policies that address the root causes of inflation, such as supply chain disruptions and increased demand. Failure to rein in inflation could lead to significant economic challenges, affecting everything from consumers' purchasing power to investment decisions.
For sure, containing inflation today has become a big challenge with prices of entities competing with one another mocking at those responsible for rate control as the situation has gone berserk, dwindling household budgets and economic equilibrium of the country as well.
Reportedly, the Consumer Price Index-based inflation surged to a 15-month high of 7.44% in July on the back of 11.51% rise in retail food inflation.
Turning things topsy-turvy, the unexpected inflation has disrupted the normal economic landscape. Prices are fluctuating unpredictably, affecting both consumers and businesses. This uncertainty makes financial planning and decision-making more challenging. It's crucial for policymakers to implement effective strategies to stabilize prices and restore economic balance.
It is the time for the government to shoulder the responsibility to level the rising prices showing dexterousness because pounding price rise was one of the promises made by the party in power at the run-up to polls but after years in regime today it is being felt that the government's efforts remained short of what were required or abysmal as inflation has surmounted many records turning the lives of people traumatic and difficult as never before.
The PM on the occasion of 77th Independence Day has said that the inflation at the international level has been affecting the scenario in India. This might be true to a large extent but the responsibility of containing inflation lies totally on the shoulders of the government at the Centre and it cannot shun it by accusing one factor or the other because at the end the people in power are all answerable.
The government must shoulder the responsibility and implement effective strategies to stabilize prices and restore economic balance. Blaming international factors for inflation is not enough; it is the responsibility of the government to take decisive action. It is high time that the government fulfils its promise of taming inflation and ensures a better quality of life for its citizens.
