Friday, July 23, 2021
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Rise in veggie prices

Modi government has done a great job to curb corruption by linking Aadhaar for subsidies and also through demonetisation as well as GST but rising inflation has been overlooked in the hullabaloo. Today vegetables are more expensive than fruits and eggs are costing the price of cigarettes. There is GST on food you eat at hotels but no GST on alcohol consumption which is surprising. Demand and supply determines prices but it is the duty of the government to intervene during abnormalities by putting certain restrictions to check prices of essentials.

Government should import food products whenever there is a shortage in market due to failed monsoons or other reasons. Hoarders should be taken to task whenever they try to push prices up by holding supplies of essentials. Essentials items could be given at subsidised rates to the poor through fair price shops and other available mechanism.

A stitch in time saves nine and government should take quick decisions so that price rise can be controlled effectively at the initial stages. Commodity exchanges are the main source of rigging prices and hence, all essential items should not be traded on the exchanges!

(The views expressed by the author in the article are his/her own.)

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