Rising food prices has become a burden for common man. Measures taken by the Government has to some extend controlled the situation but has not helped to bring down the food prices. Government prediction that the annual GDP growth rate of 7 percent to 9 percent will address this situation has not helped as the GDP growth rate for the second quarter was around 7.9 percent. The Sixth Pay Commission has helped the performance of service sectors and the State Government and other public sector companies are likely to follow this pay scale.
The challenge is with employees in the private sectors, which saw a decline in job opportunities and wage deflation due to global financial crisis. The prices of essential commodities have increased tremendously affecting the poor. In Delhi retail market, sugar is sold at Rs.44 a kg, common rice varieties price ranges from Rs.22 to Rs.32 a kg, price of different varieties of pulses range from Rs.40 to Rs.100, salt is priced around Rs.12 and cooking oil price ranges from Rs.64 to Rs.80 a kg. The food price index rose 17.56 per cent in the 12 months to Jan. 23 and India’s annual wholesale inflation picked up to 7.31 per cent in December 2009, compared with 4.78 per cent in November. This calls forth more steps from the Government to bring down prices in the budget.
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