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The big squeeze ; A deadly cocktail of rising prices and rising cost of money has wrecked household budgets across the country.
- Article from:
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India Today
- Article date:
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June 30, 2008
- Author:
- Nivedita Mukherjee; Swati Mathur; Saritha S. Balan; Amitabh Srivastava; Farzand Ahmed; Elora Sen; bureau inputs
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In Ashutosh Gowarikar's magnum opus Lagaan, the villagers of
Champaner pray fervently for rain till the horizons turn dark and
the big drops arrive. They are then rewarded with a harvest to pay
their arrears to the British.
The UPA regime which has been as desperate for a decent monsoon
may not be as lucky. Even though a good monsoon appears to have set
in, government officials admit that it is not going to douse the
inflationary fires.
The Centre had feebly pinned its hopes on the early showers of a
good monsoon forecast to cool food prices and cap inflationary
pressures.
June saw a scorching sun kicking in and the highest inflation
rate of the UPA Government's tenure 8.75 per cent in the ...