For the last two years, the country has been facing financial difficulties due to the Covid pandemic (Covid-19) and now there is news of concern for the general public. The general public, which had hoped that inflation would come down, is now suffering from inflation shock. On May 26, Narendra Modi will complete eight years as Prime Minister. The most worrying thing is the price rise in foodgrains in April this year, which is considered a big threat. Food inflation rose to 8.38 per cent from 7.68 per cent in March last year. Rising inflation is considered to be the biggest alarm bell in the world of economics.
Inflation in the Consumer Price Index (CPI) released by the NSO for April has reached an eight-year high. Inflation had touched 7.79 per cent in April. Inflation was 6.95 per cent in March this year as against 4.23 per cent in April last year.
What is the percentage increase in food inflation?The biggest concern for the central government is the rise in food inflation in April this year. Food inflation rose to 8.38 per cent from 7.68 per cent in March. The highest inflation is in vegetables. Inflation in vegetables rose to 15.41 per cent in April from 11.64 per cent in March.
Industrial production in FebruarySimilarly, fuel inflation rose to 10.80% from 7.52%, pulses inflation rose from 2.57% to 1.86%, clothing and footwear inflation rose to 9.85% from 9.40% and housing inflation rose to 3.47% from 3.38%. However, the 1.9 per cent rise in industrial production in March this year is a matter of great relief to the government. Industrial production rose 1.5 per cent in February.
Petrol and diesel prices have gone up by 72 per cent since May 2014 under the Modi government. Excise duty on petrol and diesel also increased by 530 per cent during the period. Brent crude prices are still at the same level as they were at the beginning of the first term of the Modi government. Meanwhile, the government has filled its coffers with oil. In the last three years, the central government has earned about Rs 8.02 lakh crore from taxes on petrol and diesel.