Rising Prices
There are many intelligent people in the economic field who would tell us that rising prices is a phenomenon that is characteristic of a developing economy. But inflation can be beneficial only if the production and national income of the country also increase. But in our country, national income and production do not increase in proportion to the rise in price due to various diverse factors. Since independence, India faced such problems that in spite of major steps taken to improve the economy, our economy has not come up to our expectations. India was attacked by Pakistan and then China in the earlier years of her freedom. It took years to recover from the heavy losses of the war. Then large-scale industries, like Iron and Steel showed losses in earlier stages. This also caused a hike in price. Nowadays the main reason behind this unbalanced gallop in price is black money. The government is trying hard to control prices by coming down heavily on corrupt officers. It’s taking proper steps to control prices which are causing economic hardships in a commoner’s life. But all these measures will take time to show results. At present, the rising of prices is a painful reality which cannot be avoided in our day to day life.
