We are living in a country where the majority of population consists of middle class and lower class. The government and the different agencies of the government have to play a significant role to increase the standard of living of the lower class and to hold the middle class without falling down.
I feel very disappointed to say that the current government at the center had failed to fulfill its responsibility towards the people of this country. In the current scenario, it would be better if we head towards another election, even though it comes with a cost. The govt. cannot justify its act of giving away its right to determine petrol prices to the oil companies and that too in an economy which is reeling under high inflation. Even a high school student who studies economics could infer that an increase in fuel price will fire inflation. It is very disappointing to see that our honorable PM and FM who are good economists turned a blind eye towards this. And to further worsen the situation, they are planning to give away its right to determine diesel and LPG prices to the oil companies. We need only the money which are given as tax relaxation to big corporate to subsidies these items.
The Reserve Bank also failed to take an effective step to contain inflation. It had increased the lending rates several times in the past one and a half year by 25 basis points. It would have been more effective if it had hiked lending rates by 100 or 150 basis points in a go when it realized that a small increase will not affect much in the economy. Only thing happened here is the sufferings of common man have increased many fold.
The opposition parties should act some more sensibly through constructive criticism. Instead of conducting strikes and hartals which again increase the pain of common man, they should disturb the life of those who are responsible for this. They are living at the expense of common man and are favouring big corporate. There should be an end to this practice in order for us to live happily in this country. The opposition parties should revisit their strategy in order to effectively deal with such situations. If they disturb the day to day operations of the house, they are again wasting people’s money. They should behave some more responsibly. The unity in passing the salary increase bill should be there for other bills which are the need of the hour.
There are many financial analysts and economists in the government who can do a proper analysis of this situation and take some effective steps to get away from the current situation. It is high time to do this, failing which can push us to the worst crisis India had ever seen.
