Prices rise in India

Issue 

By Sujatha Fernandes

LUCKNOW — Late on the night of July 3, the Indian government introduced a 25-30% hike in the prices of petroleum products. Although kerosene was exempted, the decision resulted in an increase in the price of all goods by 50 to 100% in less than a week.

There has been no corresponding rise in salaries or earnings, except in those of businessmen and traders. The rise in the price of vegetables is the most arbitrary and impacts hardest on those living close to or below the poverty line. When the rise in bus rates and the increase in all prices where any petroleum product is used is taken into account, the impact on the average family budget is staggering.

The rise in petroleum prices has created spontaneous protests all over the country. Social organisations, women's rights organisations, pressure groups and left political parties have launched agitations.

The Communist Party of India — Marxist Leninist (CPI-ML) staged a speak-out outside the General Post Office here, demanding the withdrawal of the price hike. Due to the countrywide protests, the government reduced the price hike in diesel from 30 to 15% on July 7.

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