INFLATION IS UNDER CONTROL; IT IS COOMON MAN’S BUDGET THAT IS OUT OF CON TROL:PROF. R K JAIN ARIJIT

INFLATION IS UNDER CONTROL; IT IS COOMON MAN’S BUDGET THAT IS OUT OF CON TROL:PROF. R K JAIN ARIJIT

24-AUG-ENG 24

RAJIV NAYAN AGRAWAL

ARA---------------------------------These days, the moment one opens the kitchen door, the budget is the first thing that comes to mind. Sugar is expensive, cooking oil is wreaking havoc on the household budget, one has to think twice before consuming every morsel of lentils, and soaring vegetable prices are upsetting the balance of the meal. Even the cream on the milk is no longer a routine luxury. Inflation has changed the nature of the question—earlier, the question was, "What shall we cook today?" One now has to think about what to give up. Roti is no longer just food; it has become a line item in the monthly budget. When essentials become expensive, savings are the first to shrink, followed by a curtailing of desires. Endurance is often hailed as a virtue, but amidst constantly rising prices, it turns into a compulsion.

The gap between government claims and market reality is stark. While inflation is said to be under control, this is not reflected at the grocery store. Statistics may show relief in percentage terms, but a family’s budget operates in actual rupees. If the price of lentils rises, global factors are cited; if oil prices go up, the international market is blamed. The question remains: why do these same global conditions not seem to have an impact when prices are low? The common man understands inflation without needing an economics degree; he gauges the month based on the prices of sugar, oil, milk, and onions. For him, inflation is not an economic term but a daily experience. This explains the widening trust gap between the language of the government and the language of the kitchen. RBI data also highlights this disparity.

Inflation has created a middle class whose income remains stagnant while the cost of necessities keeps rising. On paper, they are not poor, yet the month-end balancing of income and expenses leaves them feeling insecure. Households now find themselves telling children about the days when things were cheap—prices that were once the norm. The very concept of "cheap" is gradually shifting from lived experience to mere memory. Inflation impacts not just what is on the plate, but also savings, education, healthcare, and future plans. When a large chunk of income goes toward essential expenses, the space for dreams inevitably shrinks. Average statistics alone cannot fully capture this pressure.

There is no shortage of measures to control inflation, yet the results remain limited. News reports frequently cover the opening of warehouses, increased imports, crackdowns on hoarding, meetings, and official announcements. Governments take action, but consumers find relief only when market prices actually drop. Promises to curb inflation are made during elections, yet the same concerns resurface after a while. The problem is not that the government does nothing, but rather that a gap persists between the efforts made and the relief actually felt by the common man. An announcement of price controls is meaningful only when its impact is visible on the grocery list; a packet of sugar and a bottle of cooking oil respond to prices, not speeches.

Rising prices have altered the nature of family conversations and priorities. What was once a structured household budget has now become a calculation constantly struggling against fluctuating prices. A wife estimates the cost of vegetables, oil, and sugar, while the husband weighs his salary against other expenses. The dilemma remains the same: numerous needs but limited funds. Many families are forced to choose between food quality, savings, and fulfilling smaller desires. Inflation does not merely make goods expensive; it reshapes family decisions. When a large portion of income goes toward essential expenses, little remains for education, healthcare, travel, or unforeseen needs. It is this daily pressure that elevates inflation from a purely economic issue to a social one.

Rising prices have changed how we perceive economic disparity. It is no longer enough to look merely at income; one must also consider how many of a family's needs that income can actually meet. The impact of inflation is most severe on the poor, as a significant share of their income is spent on food and essentials. The middle class is not immune either, as their savings and future plans are adversely affected. Even in conversations among relatives and friends, prices .have become familiar with the details—where cooking oil is cheaper, which market has a shortage of vegetables, or the current price of lentils. Inflation has altered not just the marketplace, but also people's priorities and the very nature of their conversations.

While economic theories have their place, the true test of inflation plays out on the family dinner plate. Concepts like supply and demand, global markets, and inflation rates only matter when their impact is clearly visible in household expenses. Experts may label the situation as temporary, but for the common person, persistently high prices do not feel fleeting. Constantly rising costs erode savings, shift spending priorities, and heighten uncertainty about the future. Therefore, viewing inflation merely as an economic index is incomplete. The real picture lies in how much food, fuel, education, and savings an average family can secure with its income; this is the true impact of inflation.

The most direct way to understand the common person's struggle is through their kitchen. Grand announcements are meaningful only when daily essentials remain within reach. Talk of price controls inspires confidence only when the results are visible in the market. For poor and middle-class families, items like sugar, oil, lentils, milk, and vegetables are not trivial commodities but basic necessities. When their prices rise, the immediate impact is felt on food, followed by savings, and ultimately, the future. The common person needs relief, not speeches; their voice must be heard not in statistical data, but on the dinner plate. Until essential items are within their reach, any claim of controlling inflation remains incomplete.