Managing Prices

As the economy faces tough time, particularly from last one year, people are hit hard in every possible way. One, the markets are sleepy and the business community is complaining of huge losses. This has a terrible impact on economy. Two, the loss of jobs has resulted into a huge crisis. Third, the rise of petrol prices has sent shock waves into the inner recesses of the markets. Every consumer is hit because of the rising price of the petroleum products.  Now all this goes into making an ugly tale of inflation. The prices of commodities, particularly the eatables are going high with each passing day. This poses a serious challenge to the administration. On the one hand the market forces are dictating an upward trend in prices. On the other, there is an urgent need to contain the prices, as the common consumer is facing the heat. It is not possible, given the thin condition of earnings, to buy the usual bucket of eatables. Not to speak of the luxury items, even the stuff of basic need is hard to buy. In this situation the government needs to come forward and do something to stabilise the markets. And if there are any cases of overcharging, hoarding or profiteering that need to be seriously dealt with. There is no room for a lackadaisical attitude on this count. People are already burdened, and their backs are breaking under the twin burden of job loss and inflation. The concerned departments need to come into action and punish the errant in the market. At least there should be some action taken on those traders who stoke the prices of the essential commodities. A stringent market vigil is needed in this hour of financial hardships.  At the macro level government also needs to devise policies that brings the prices of essential commodities down, giving the much needed relief to a common person. To this end government needs to think some out of box solution.