Price Hike in India Composition for Students
Price Hike in India Composition: Price hike or increasing of price for regular commodities, goods and service has become a common issue. People live within a regular budget or their regular expense usually by balancing their earning and savings. But sudden rise in prices leave them into burden where they face problems to keep balance while maintaining the same lifestyle. There are various factors responsible for ongoing price hike issue which are like black money, disposable income, unlimited spending, increasing expenditure etc. besides that natural calamities, sudden disaster, and low and slow productions cause supply shortage which results in price hike naturally. To maintain the balance of needs and supply resources of certain commodities have to increase its price. In this composition, we will explain major reasons behind price hike and what are the consequences that people face due to it.
Reasons of price hike:
Price hike after a long time on some materials is considered as sign of prosperity and development in economy. But constant price hike that too in regular using materials leave normal consumers and citizens in trouble as they cannot afford those vital things with limited income. Earning of normal people remains same while price of essential commodities arise. The constant rising price at alarming rate create great unrest and frustration among normal citizen. People belong to middle class, lower middle class and below to poverty level face tremendous issue for the increasing price rate of their essential materials. The presence of different evil practices like corruption, bribery, smuggling, illegal gratification etc. need to be eradicated from society which are the root cause of price hike. For this evil issues larger amount of money is going to upper class people and powerful people which keep rest of the people with shortage of regular used resources. People face not only price hike but also certain commodities and products are not available sometimes. Powerful businessman buy those good and services and sell them in high price in the black market.
Impact on common people:
Price hike of goods, services and commodities affect us mentally, physically and financially. Dishonest shopkeepers rely on adulteration process in the situation price hike with the aim of larger profit. For that adulteration method in regular goods like cooking oil, pulses, water, milk, milk products, sugar, spices, kerosene oil etc. health issues among people are also increasing. Commonly used fuel like petrol, diesel, cooking gas etc. are increasing every year for which transportation fare like taxi, flight, auto, bus, railway are also arising. As a result, people are facing difficulties to meet the regular needs and other essential things.
Conclusion:
People are under extreme pressure now for fulfilling their needs with the increasing rate of price. The government should take measures for controlling price of essential commodities, goods and services. In this tremendous pressure, only the government initiative is the sign of hope to normal citizens. It should also monitor the price system in market for reducing issues like adulteration, dishonest deal in business.
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