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Inflation: Warring for Modi Government.

Monday - May 14, 2018 5:01 pm , Category : WTN SPECIAL

Inflation may be dangerous for Modi government.
MAY 14(WTN) - Opposition in India keeps allegations of inflation from time to time on the Modi government. Perhaps this is true, as the wholesale inflation rate (WPI) has reached to the highest level of the four months according to the data released by the Commerce Ministry. Wholesale inflation rose to 3.18 percent in April, compared to 2.47 percent in the month of March. In April last year, inflation was 3.85 percent. 

Prices of petrol and diesel are being said to be the reason behind the increase in wholesale inflation. For the past few days, the price of petrol and diesel had not increased; it was believed that due to the Karnataka assembly elections Prices of petrol and diesel was unchanged. But immediately after the elections, price of both petrol and diesel have increased. In the wholesale inflation rate fuel and power inflation in WPI has increased from 4.7 percent to 7.85 percent. In March alone, the share of inflation was only 4.70 per cent and in April last year it was 17.11 per cent.

Due to the increasing in the price of petrol and diesel, not only the food items have become expensive but manufacturing sector is also suffering. If the Modi government do not reduce the taxes on petrol and diesel, then the rising price of petrol and diesel could be a threat to the BJP in the coming assembly elections and in the Lok Sabha election next year. The Central and State Governments impose heavy taxes on petrol and diesel, the prices of petrol and diesel are quite high due to this reason. Government should find some other way to generate revenue and then should reduce the taxes on petrol and diesel, only this way there will be a great control over inflation.
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