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Every news paper and television channel seems to be carrying the headlines “Govt talks about taking strong steps to check inflation”. The only strong steps that will be taken are administrative controls the kind of which India had in the 1980s and early 1990s. These will only lead to black markets, which would be administered by vested interests, generating further black money.

The government has so many senior advisors and economists, it is a wonder they could not forecast that an inflationary situation was round the corner. It seemed to be clear to any person reading financial news papers that inflation had already arrived in the global economy.

Why this knee-jerk reaction to inflation? Guess this circus will go on as long as India’s population is so huge that politicians can easily manipulate Indian voters.

K. Srirama Raju Visakhapatnam

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