Another Friday, CSO will be coming out with the Inflation Numbers by 12PM...
People say, its gona touch 12%...Meaning another increase in the burden on the People of India...
FM is saying that the Inflation is going to stay within the double digits for the next few weeks. Over and above that the price of Crude touched another high of 146$ per barrel and this is going to have some impact on the fuel prices in India in the near Future...
The Steel cos are under pressure not to increase the prices of the steel products but they are also acting smartly now by marketing only high end steel products in which better margins are there...
Cement cos have come with a statement to increase the prices of cement in some states w.e.f next week...
Hike in the prices of Edible oil and Maize has resulted the Govt to take steps like Ban on the Export of Maize and putting holding limit on the Traders for Edible oil. Over and above that the ever increasing prices of Wheat and Rice are to be watched out for and contributing to the increase in inflation...
Seeing a level of 12.2% - 12.5% Inflation for the week ending on 27th June, 2008 wont be unrealistic in the current scenario....
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2 comments:
Shashank..... Well said.In fact Govt has no clear view as to how to control inflation.It is a poor country & only rich politicians who do not know what is poverty compare indian inflation with the inflation in other countries.Indian Poor getting 100-150 rupees per day cannot afford Wheat flour at rs 20/- per Kg.and rice at Rs 25/-per Kg.what to talk of dals,vegetables,cooking oil.
Communists did nothing in 4 years to reduce the problems of poor Indians.Samajwadi Pary's clear demand for removal of 2 cabinet ministers shows that they mean business & are not like communists .
Servise tax on large commodities should be withdrawn to reduce prices.Service tax is taxing taxed income.
Waiting for your next writing.
Dad, one has to be realistic in this and see the issue on a larger canvas...Current FM whatevr happens is not gona change the current tax structure n specially the service tax...
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