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The highest inflation rate of 6-year seems a big challenge before the Modi government

Friday - February 14, 2020 2:18 pm , Category : BUSINESS
Troubled by inflation, the people of Delhi express 'resentment' against the BJP
Troubled by inflation, the people of Delhi express 'resentment' against the BJP

The inflation hits the BJP in the Delhi assembly elections! 

FEB 14 (WTN) - The result of the Delhi Assembly elections is a big lesson for the BJP government at the Center. The way the Aam Aadmi Party has won historically in the Delhi Assembly elections, it proves that the people of Delhi were angry with the BJP government at the center. In the Lok Sabha elections held last year, BJP had won more than 60 assembly seats in Delhi but in the Delhi Assembly elections, BJP could win only 8 seats. Although, there can be many reasons for the BJP's defeat, and the historic victory of the Aam Aadmi Party, but rising inflation is also a big reason for BJP's defeat. 

For your information, let us know that retail inflation reached the highest level of the last 6 years in January. Let us know that the retail inflation rate in the month of January was 7.59 percent, which is the highest in 6 years. While the retail inflation rate was 7.35 percent in the month of December last year, the retail inflation was 5.54 percent in the month of November before that. Let us know that this is the fourth consecutive month when the retail inflation rate has reached above the Reserve Bank of India's inflation target of 4 percent. It is clear that due to the 6-year high inflation rate, the BJP has lost in the Delhi Assembly elections. In fact, the rise in the prices of everyday food items such as grains and pulses has seen such a sharp rise in retail inflation.

However, the prices of vegetables have been reported to decline in the month of January. Let us know that the inflation rate of vegetables was 60.5 percent in December 2019, while in January it fell to 50.19 percent. But the prices of cereals and pulses saw a spurt in the month of January. The inflation of cereals stood at 5.25 percent in the month of January, compared to 4.36 percent in the previous month. At the same time, inflation of pulses was 16.71 percent in January, which was 15.44 percent in December.

Here, the prices of meat, fish, and eggs have also been recorded to increase in the month of January as compared to the month of December last year. Meat and fish inflation was 10.5 percent in the month of January, which was 9.5 percent in the previous month (December). At the same time, the inflation rate of eggs was 8.7 percent in the month of December, but it increased to 10.4 percent in January. Inflation has also been seen on clothing and footwear. Inflation of clothing and footwear increased to 1.91 percent in January, from 1.50 percent in the month of December. 

It is clear that the people, who are troubled by the rising inflation, have expressed resentment against the BJP government at the Center in Delhi. However, inflation is not the only reason behind BJP's defeat in Delhi. But for the BJP, which won only 8 seats in the Delhi Assembly elections, inflation can be a big challenge in the coming times. Assembly elections are scheduled in Bihar this year, so if inflation is not controlled in time, the results of Bihar assembly elections can also disappoint the BJP.

A few days ago, due to the fear of the Iran-US war, the prices of crude oil had increased, due to the rate of retail inflation has seen a rise in the month of January. At the same time, the impact of the global economic slowdown has also greatly affected the Indian economy; a considerable impact has also been seen in production in such a situation. Although the Modi government had taken a lot of measures to deal with the economic slowdown and to control inflation, the measures of the Modi government have failed to control retail inflation. In such a situation, it has to be seen now how the Modi government is able to gain control over the rising inflation so that it does not have to face defeat in the upcoming assembly elections.

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