Price rise in India

Both the rightist and leftist political parties blame the central government of India for the price rise. Almost all the political parties continuously demand increase in wages of all workers and employees-agricultural workers, textile workers, factory workers, bank employees, government employees, public sector industrial workers etc. and the wages and salaries keep increasing. Not only this, the political parties also demand more regulations on working hours-shorter work time. This means lower production. When production/productivity is low and wages keep increasing, it is natural for prices to keep going up. The prices would have gone up, whichever party had been in power.

 20-30 years ago, one should have been seriously concerned about sufferings of unemployed and under employed people consequent on price rise. But now, the issue before the country is not unemployment or under employment but of shortage or acute shortage of labour on all fronts- agriculture, plantation, industry, construction, service sector, trade, petty business, domestic work etc. The labour shortage is felt both in urban and rural areas. If the employment exchanges show increasing number of registrations, it is only due to unwillingness of people to take up jobs which do not require their educational qualification. If prices increase, people can think of taking up available jobs, working over time, doing two jobs (one full time work for 6 hours and one part time work for 2-3 hours. Agricultural workers and others in rural areas work only for 5-6 hours). This will incidentally minimize the labour shortage.

Longevity has gone up. Pensioners are getting pension for longer period now than before. One way of curtailing price rise will be to increase the age of retirement by about 5 years thereby increasing the availability of workforce.

School education could be curtailed by 1-2 years and university education by six months-one year. This will make available more number of people for work which will increase production.

In this connection, it may be relevant to mention that the government while prescribing minimum wages for workers in particular sectors should fix wages per hour instead of per day.

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One Response to Price rise in India

  1. vikramsingh rathore says:

    sir I like your suggestion .but is their any work is going on to implement any of your suggestion.I am from field of textile face labour problem and having no idea to over come it. and I repect your suggestion

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