Current Affairs

Prices are Rising Day by Day – Problem of Rising Prices – English Short Essay

Prices are rising day by day. After independence this has become a common feature in India. The government has failed to control the price of many a thing. People are put to untold sufferings because of rising prices.
Price rise has been marked after the Indo-China war in 1962. After that came the war with Pakistan. These wars shook India’s economy. Draughts and famines made the situation worse. Hoarding, black-marketing and smuggling affected the price of everything.
There are a number of reasons for the price rise. The price of an article should follow the natural laws of economics Normally prices depend on the ‘supply and demand’ theory.
But prices rise even when the supply is greater than the demand. This happens because of the selfishness of the traders.The cost of production of articles is on the rise. So their selling price should also go up. Raw materials are becoming scarce. Transport charges are on the rise. All these lead to price rise. Besides this traders create an artificial scarcity for certain goods. Cheap goods like the common salt also are sold at high prices.
The government is taking steps to control the rising prices. Certain goods are sold through fair price shops. There are severe laws to punish the black marketeers and hoarders. The public should also cooperate with the government in this regard. Only then the common man can have relief from the rising prices.

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