Inflation rate in Pakistan is at its record level. India has also been battling with persistently high prices, but in the month of December, the retail inflation rate has come down to 5.72 per cent, which was 5.88 per cent in November. But on this front Pakistan’s system seems to have failed completely.
On the economic front, the condition of India’s three neighboring countries Sri Lanka, Pakistan and Bangladesh is not looking good. In this, the condition of Sri Lanka and Pakistan is on the worse side. The kind of news that was coming from Sri Lanka last year is similar to the situation in Pakistan.
Inflation in Pakistan has made life difficult for the general public. People are so helpless that they are forced to pay thousands of rupees to meet basic needs like pulses and flour.
Actually, the price of flour in Pakistan has increased by 80 percent within a year. Talking about the inflation rate, at present it is 24.5 percent i.e. about 25 percent. In which urban food inflation rate is 32.7 percent and 37.9 percent in rural areas. If we look at the same figures in India, the inflation rate in urban areas has been recorded at 5.39 percent, which was 5.68 percent in November, which means that the inflation rate is continuously decreasing. On the other hand, talking about rural areas, the inflation rate has been claimed to be 6.05 percent in the latest figures.
The Government of India has taken continuous steps to deal with inflation. But if we look at the current inflation rate of Pakistan from the point of view of India, then here also the prices of basic things like flour, pulses and rice will increase. However, economic affairs expert Manish Gupta says that India is largely self-sufficient in these things.
Manish says that the way Indians go to Europe and America, they get many things very expensive like water, clothes, food. But infrastructure, machinery, processed food and government facilities are cheap. India is self-sufficient in food grains and essential commodities, so there will be no shortage of essential commodities even if there is inflation.
Manish claims that if the rate of inflation in India becomes equal to that of Pakistan i.e. even up to 25 percent, then the prices of things will increase here as well as the per capita income will also increase. The result of which will be that the cost of living in India means the cost of living will also increase in the same proportion. Means the standard of living and income can start coming to the level of Europe and America.
Just as at present the rate of interest on bank deposits in India has come down almost to Europe’s level. In the same way uniformity will come in the markets of India and Europe if the rates of commodities are the same, due to which India’s foreign trade will increase and India too will at least be at par with foreign countries in matters of living.
With the increase in per capita income, there will be a change in the standard of living of the people in India and it will be better. With the increase in internal and external trade, the government will also get more revenue. In this situation, the collection of GST can reach about two and a half lakh crores, due to which the government will have more money to spend on infrastructure, security, food for poor citizens and the public will get more facilities.
Manish believes that food grains and other resources are available in abundance in our country, as well as we have proper farming and dairy products, in such a situation, even if the price rate increases, there will be no fight for goods in our country and availability for all customers. Will continue.
When Manish was asked that what would be the cost of essential things in India if the inflation rate is 25 percent, he said that the main reason for the situation in Pakistan is the collapse of the supply chain there. Because of which even if food grains are available somewhere, they are not reaching the general public.
Manish told that if we do a comparative analysis of the inflation of essential commodities between neighbors like India and Pakistan and remove the price rise due to shortage of commodities, then in the situation of inflation like that of Pakistan The rates of our country’s goods can increase by about 40 percent as compared to today.
Because as the cost increases, the prices of such things will also increase. Apart from this, there can be a difference of about 10% due to the compound effect of inflation and the increase in freight due to increase in the prices of petroleum products.
That means we will have to pay 40 percent more than the rate prevailing today. Then if flour is available today at Rs.40 per kg, then if the inflation rate is 25 percent, we will have to pay up to Rs.56 for at least 1 kg of flour. Similarly, milk which is available today at Rs 55-60 a liter will have to pay Rs 77-84 per litre.
Manish said that although the inflation rate in India will not reach 25 percent, but the way the government rewadis are being distributed and the population rate is increasing, in that situation even these apprehensions cannot be denied completely.
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