NE

News Elementor

NE

News Elementor

What's Hot

Economic Exploitation and Inflation

Table of Content

No headings found

Bhubaneswar: The Repo Rate has been increased to 40 bps by the Monetary Policy Committee (MPC) of the Reserve Bank. So it has reached 4.4 per cent. Notably, Repo Rate is the rate at which loans are granted to the commercial banks of the RBI in case of a shortage of funds. It is also said that it controls inflation. Statistics say, in last March, the retail inflation was 6.95 per cent. The increase in food prices has resulted in this situation. There will be an increase in personal and domestic loans after the hike in the Repo Rate. In this situation, on 7 May 2022, the Oil Marketing Companies(OMC) increased the price of the cooking gas by Rs. 50 per cylinder. As a result of this, a 14.2 kg gas cylinder costs more than Rs 1,026 in Bhubaneswar and it costs Rs 1, 050 in Malkangiri. After 2021, the cost of the cooking gas cylinder has increased by 190 within a year. Certainly, it has put an extra financial burden on each family.

In a good country, the primary aim of the government is to achieve the welfare of the people. But the attitude of the policymakers indicates that every step is being taken in favour of the Oil Marketing Companies. It can be said that when the ruling party is not heading for an upcoming election, inflation hits. During that particular time, the attention of the people is being averted toward a petty matter to conceal the main issue in the country. If there is no election ahead then the price of petrol, diesel and LPG will remain constant. When the price of these goods rises, the government responds by saying in the automated system the price goes up and down.

It is understood how much the economy in India has diminished from the example of the exchange rate of the Indian currency having reached Rs 77. The international situation has been blamed for this. But from 2014 to now, if estimated, can be understood that many economic decisions are taken with evil intentions to win the elections. Then various false propaganda is being spread through advertisements and social media by spending loads of money. It is said that whatever inconvenience and inflation are happening is the contribution of the common people to make the nation. So political benefits are gained by using the economy. By this, the country will soon face the same situation as the Srilanka, predicated by the economists.

The price hike in goods can be controlled so that the common mass will not face the financial burden. For that, the petroleum products and goods service taxes (GST) can be included. But the current government is not ready to accept it. Everyone is getting exploited by the same formula.

-OdishaAge

newodishaage

defigosolutions@gmail.com https://odishaage.com

Recent News

Trending News

Editor's Picks

Crimes Should Not Be Judged Under a Gender Lens

Bhubaneswar: Our society has slowly gone to the position where a sexual harassment, candle march, justice, protest for rights, violence against women has become normal. Everyday the new portals, television channels and news papers are filled with such news. One after another, cases are proving that women are unsafe and helpless everywhere. Ever alternative day...

Bhubaneswar: A 20 year old girl, studying in F.M. College, Balasore has died after setting herself on fire in the college premises on 12 July . Her final days of life were spent in pain, desire and fire. She was silenced when cried for help. She walked into the principal’s chamber on 30 June to...

TNM Forum Set to Host Exclusive Travel Synergy Roadshow in Kolkata

Kolkata: Travel Network Meet (TNM) Global Forum, one of the fastest-growing platforms dedicated to fostering collaboration and growth within the travel industry, has announced its upcoming Travel Synergy Roadshow, to take place on July 8, 2025 at Hotel Hindusthan International (HHI), Kolkata. Designed as a dynamic convergence of travel, tourism, hospitality, education, wedding planning, and film production...

Small Steps to Achieve a Big Vision: iLEAD Revives Lifeline Hospital in Sundarbans

Kolkata:iLEAD is transforming healthcare in Sundarbans by reviving a closed hospital on Gosaba island, serving over 1 million people. This initiative combines education, healthcare, and innovation to bring hope and healing to the region. Bridging Gaps with Purpose and Passion iLEAD’s Department of Allied Health Sciences recently organized health camps, including thalassemia screening, blood donation...

NE

News Elementor

Lorem Ipsum is simply dummy text of the printing and typesetting industry.

Popular Categories

Must Read

©2024- All Right Reserved. Designed and Developed by  Blaze Themes