Today 7 percent inflation is more stinging because of demonetisation, GST and Corona pandemic have broken the back of people financially. By the way, wholesale inflation has been in doubles since last one year.
The second week of the monsoon session of Parliament is underway and seven days of sittings have been held. The opposition is beating its chest that the government is not discussing inflation. The government also does not know why is not discussing inflation. By law, the government should have ended the matter by discussing inflation on the first day. Both the government and the opposition know that a discussion on inflation does nothing. Inflation has been discussed so many times in Parliament that people have forgotten to count. But what happened to him? Did that discussion reduce inflation? Till date, it has not happened in the history of Parliament that there has been a discussion on inflation and governments have agreed that inflation is increasing or after discussion the government has taken a decision to reduce inflation.
On the contrary, not discussing inflation is getting more attention. The opposition is getting more opportunity to create a ruckus. Parliament proceedings are being disrupted and the government has to give more explanation. In the Rajya Sabha, BJP leader and Union Minister Piyush Goyal clarified that inflation used to be double in the UPA government. It is true that then inflation was in doubles and BJP came to power by beating this. The theme of BJP’s campaign in the 2014 Lok Sabha elections was ‘Bahu Hui Dearness Ki Maar, Abki Baar Modi Sarkar’. So, there is no point in repeating that point now as the UPA has been out of power for eight years.
When the rate of inflation was in tens under the UPA government, then the rate of increase in GDP of the country was also close to tens. The reality right now is that since the third of March 2018, the rate of real GDP has remained at or below 4 per cent. The growth rate, which was negative during the Corona period, is definitely improving, but India’s GDP is still around 2019. So, there is no point in the argument that inflation was in double digits during UPA. Today 7 per cent inflation is going to be more stinging because demonetisation, GST and corona pandemic have broken people’s back financially. Above all, wholesale inflation has been in double digits for the last one year.