Answer:
The price rise is a world phenomenon today and inflation is affecting every section (rich and poor) of society. Our country is also facing this problem. The prices of almost all essential goods are going up.
And prices once gone up never come down. This causes great hardship and difficulties for the people in the fixed income group or those belonging to the low-income group. Today there is no limit to the price rise.
When prices for energy, food, commodities, and other goods and services rise, the entire economy is affected. Rising prices, known as inflation, impact the cost of living, the cost of doing business, borrowing money, mortgages, corporate, and government bond yields, and every other facet of the economy.
With regard to the factors contributing to the rise in the general price-level, one may mention that on the demand side the following factors have operated: rapid growth of population, increase in incomes, rising non-development expenditure of the government and increase in money supply.
The government of the day goes on imposing taxes after taxes on the already burdened citizens. This leads to a lot of money going into the national expenditure and into the pockets of corrupt leaders and officials. Black marketing also leads to heavy taxation as people conceal their actual income.
Production of agricultural goods should be increased along with industrial goods. Their prices should be fixed. The government should undertake to ration in cities and villages. Their prices should be fixed.
The government should undertake to ration in cities and villages. Cheap clothes should be produced and essential items are distributed through government shops.
Corruption must be ended at all levels. Corruption adds to the problem of prices. Bribing is common in most government offices and this also leads to the rise in the prices of goods.
For example, a job that can be done by paying a small amount needs more money because some officials would not do it till they get extra money for it.
This leads to an imbalance in the market and an addition to the burden of the common man. Rising prices are a problem that has to be tackled at all levels. to solve this troublesome problem There should be the co-ordination between the states and the centre. New effective policies must be made. Things must be imported if there is much shortage. Only then this problem can be curbed.
I REALLY HOPE THIS HELPS YOU
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