Price hike of the essential commodities are the major problems that our country has to deal with. Last year, finance minister welcomed more than 9 percent growth rate at the cost of 7 percent inflation rate. The major reason of inflation was the large inflow of foreign direct investment which was also the main agent of economic growth. This year inflation rate has touched 8.1 percent as compare to 5.4 percent of corresponding quarter of the last year. This time, government is blaming the world economy which is on the verge of recession due to food crisis and hike in fuel prices.
If we see the growth as overall figure then it will give rosy picture of our country. But for the even development of a country, distribution of income among masses should be the indicator of growth. As the fruit of economic growth has been acquired by only a few percent of masses, the large chunk of masses still living in acute poverty. According to study by an private organization, per person daily income of 80 percent people is only Rs. 20. Now one can realize the effect of inflation on people of such group. They will not be able to manage enough food and essential commodities. So spending on education is beyond their imagination. So finally, inflation will cause reduction in literacy rate and increase in child labour.
So if inflation is accepted for national growth, then government should take proper measure to stop its negative impact on common man. She should have to spend more on education, health and public awareness. Without that, a large section of our society will left behind which are not the good signal of healthy development of a country.
If we see the growth as overall figure then it will give rosy picture of our country. But for the even development of a country, distribution of income among masses should be the indicator of growth. As the fruit of economic growth has been acquired by only a few percent of masses, the large chunk of masses still living in acute poverty. According to study by an private organization, per person daily income of 80 percent people is only Rs. 20. Now one can realize the effect of inflation on people of such group. They will not be able to manage enough food and essential commodities. So spending on education is beyond their imagination. So finally, inflation will cause reduction in literacy rate and increase in child labour.
So if inflation is accepted for national growth, then government should take proper measure to stop its negative impact on common man. She should have to spend more on education, health and public awareness. Without that, a large section of our society will left behind which are not the good signal of healthy development of a country.
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