Bring down Food Inflation -Let the people be happy and motivated.
Annadatha Sukhi Bhava.
President-elect Donald Trump says Americans not being able to afford groceries will be a relic of the past. “They’re going to be affording their groceries very soon,” he said Thursday before ringing the opening bell at the New York Stock Exchange, where he was honored as Time’s “Person of the Year.”
The belief Annadatha Sukhi Bhava is in practice for ages and this is considered to be the most satisfying and fulfilling experience of both the giver and the taker of food equally. "Nothing can substitute feeding of hungry" is true to the core and this only can help the people to remain motivated emotionally and in all other respects.Very high Food Inflation, Taxes and other Charges do not make living Comfortable for majority of the population. All their happiness, peace and contentment are first attached to food first and then only they think of other comforts like shelter, clothing, medical, pursuit of education, travel for social visits, for pleasure, sight seeing, pilgrimages etc etc. The whole life should not be left only for calculating subsistence and existence levels linked to income and cost of living. Majority have to come out of that situation and dream of a developed world and reaching their minimum standard standards of life.
The Government in power and other authorities have moral, social, economic and emotional responsibility to keep the food prices under check by all means and make food available within the affordability of all. The first and foremost objective of both Fiscal and monetary policy should be to ensure that the food items are produced /imported adequately at minimum cost and available to all within a reasonable price. Politics cannot and should not interfere in the pricing of food products and should not dictate terms in the production, storage, transportation, distribution and their reachability to all. Politicians can have all welfare policies but the administration has to necessarily execute the policies in such a way that they do not affect the sentiments and urge to have two square meals for the entire population irrespective of their incomes and affordability. Basic Need cannot be mixed with Luxury. The economic policies consisting of Monetary and Fiscal Policies determine the generation and distribution of wealth based on the economic and social conditions of the entire population taking into consideration the availability of natural resources and other potentials of the country apart from geopolitical conditions of the whole universe, play a key role in regulating the food inflation, cost of production and giving the momentum of growth and keeping the population happy, motivated and aspiring for peace, safety and all round progress. Many of the ills of the economy emanate from poverty , very high food prices and high cost of living. Widening inequality adds fuel to fire.
The success of democracy should be judged on the availability of food to all always and at reasonable prices without any linkage to affordability. It is easier said than done as the very administrative set up essential to ensure the availability of food to all at affordable prices unfortunately remains manipulative, corrupt, inefficient, exploitative and greedy beyond any justification either morally, ethically, legally and empathetically.
The high inflation not only widens the gap between the Rich and the Poor, but it also affects the poor physically, financially, psychologically, emotionally and socially. High inflation in the absence of affordability among majority of the people to survive unfortunately takes away the very happiness and welfare among the masses but adds to the very existential crisis which is not desirable in Nation's interest and long term stability of the economic progress and its continued sustenance. It is very apt to quote here the Kantar's Report that appeared in ET dated 6/12/24 which says"Urban middle Class Household Shrink, Rich Club Sees Big Jump. Incomes not able to keep pace with inflation. One needs to introspect and find ways and means to find some tangible solution to avoid such situations in the long term interest of the economy and welfare of the people.
Removal of taxes and levies, malpractices prevalent in the form of corruption both in kind and cash in the production of agricultural goods and all logistics related services in the procurement, movement, storage marketing , distribution and final destination of these to people all around will definitely go a long way in reducing the food prices and making the people happy and motivated. Any sacrifice made in containing food inflation will prove to be a great boon to boost the economic growth and ensure universal welfare of people. Time for all authorities concerned to think afresh and coordinate policies and their successful implementation keeping the objective of ensuring food products at affordable prices and their availability irrespective of seasonal variations including political manipulations. Any cost to bring down the cost of food to majority of the people cannot be considered as cost , as the benefits that can accrue from this to the economy and the Government can definitely outweigh the COST.
The only way to contain food inflation is to have a different approach by creating a' Food Inflation Neutralisation and Stabilisation fund ' under the auspices of Reserve Bank , NABARD and the Banking System to administer effectively the supply chain management of the sensitive food commodities particularly, Tomato, Potato and Onion and other vegetables and fruits , involving state Governments. The production and supply chain management keeping the influence of cost as the main factor in inflation control should be made more transparent and free from all possible manipulations by any force at the ground level. The need to activate RBI Local Boards in the matter is very paramount It is high time MPC and RBI local Boards coordinate and think of some concrete measures to contain the food inflation which remains broadly undefined and defiant. Man-made inflation cannot be controlled by the Monetary theory policies alone is a proven fact as inflation inter- alia is also a creation of poor administration with active support of unhealthy politics and tolerance of unethical and all sorts of malpractices. RBI has been providing the best of accommodative policies for years and has strengthened the financial and Banking system stability perhaps unheard of so far, but still the inflation continues to be a major challenge, stumbling block in the economic growth which cannot be allowed any more to realise the dream of India becoming an advanced economy by 2047. The peoples' aspirations to see India as a welfare nation can be fulfilled only by adopting and adhering to some very dynamic and untried policies and approaches. No advanced economies suffer from very high inflation and the standards of Life have some enviable quality.
Loka Samastha Sukhino Bhavanthu starts with food for all at affordable prices. Once this is taken care of, all other challenges for economic development are within our reach with all our own natural and best of human resources.
TVG Krishnan
( personal Views).
