write an article on rising prices
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The rapid increase in prices is causing anxiety amongst the people of India. Price rise is a world wide phenomenon and India is no exception. Prices of everything are sky rocketing, even of the essential commodities like gas, pulses, sugar, edible oils, tea, food grains, petrol, etc. What causes price rise and what effect it has on the people?
When the total demand is greater than total supply of goods and services, it causes prices to rise. However, what causes the demand to increase? Economists have pointed out that factors, such as increase in disposable income, consumer spending, public expenditure, black money, etc. are responsible for exceeding demand. Similarly there are certain factors, such as less or slow production, natural calamities, artificial scarcities increase in export, etc., which are responsible for shortage of supply.
Price-rise affects different people differently. Although it may not have much affect on the flexible income group. However, maximum hardship is faced by those belonging to the fixed income group. It is so because their salaries and wages remain the same but the prices of goods and services continue to rise.
In order to curb the problem of price rise it should be the joint effort of the government and the public to control it. There should be more fair price shops, Kendriya Bhandar, Safal outlets, etc. where the common man can shop for quality goods at a nominal price.
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