Reserve Bank Of India – Meenas Poems

Indians At Loggerheads

Went back to India after a long time.
Setting the house and sprucing it up
took a few hundreds of rupees from the account
in case I needed to buy things
as tomorrow being a Sunday.

The bank staff looked at me with disbelief
I knew not for what and why
coming back home my friend called
We had a long chat over the telephone
She said that a kilo of onion costs Rs 90.

She went on with prices of other commodities
where petrol price has been hiked
a litre costs RS 83 and kilo of rice 60 Rs.
and LPG cylinder costs 500 Rs.
Hearing nothing more I glanced at the currency I had.

What could I buy now with the money in hand.
I deliberated and chid me for being so careless.
The value of Rupee has gone down day by day
with the dollar going up and up
the Indian currency has fallen from grace.

With the currency sinking very badly
the economy getting near to death
inflation rocking high up reaching the skies
the Indians stand aghast at their governance
which has plundered the country to the most.

The opposition blaming the ruling party
The Prime minister accusing the main opposition
The scams and scandals that wreathed the country most
stand the tests nakedly and justifications clothed
with files lost and evidences disappearing.

The Finance Minister preaches from the podium
asking people to be patient blaming the Reserve Bank
while the retiring Reserve Bank chairman calls his institution
as a baby step organisation allowed to take few steps
piling one assault over another pushing the people to death.

The Reserve Bank Governor bids adieu a day ago
saying that if the Finance minister wants to go for a walk
let him walk alone in the financial abyss leaving the Reserve B ank
while the Reserve Bank would continue to exist protecting the rights of people.
Where is India going with everyone at loggerheads?

Economy And Inflation -Growing Together

Article first published as Economy and Inflation – Growing Together on Blogcritics.

Growth is a healthy phenomenon. If growth gets stagnated, the world would be in turmoil. Recently there has been an unprecedented growth in prices. Precious metals have reached a new peak. Oil saw a hike and retreated. The price of land and buildings is high. Last but not least, prices of vegetables and cereals are getting out of the grip of the average man.

Inflation is worldwide, as recession is global. The International Monetary Fund’s food price index has risen by 29% in the last six months. The high inflation on primary articles is more on account of supply side constraints. Prices of most staples have nearly doubled, while productivity and yield have risen marginally.

India , which is emerging as an economic force to reckon with, is struggling to fight inflation. The Reserve Bank of India, as always, is fighting a lone battle. Retail price of wheat in Delhi has risen by 90%, while production increased by 16% and the yield went up by 4.5%. Sugar prices have doubled,onion prices have tripled, and pulses have more than doubled.Prices are stubbornly high. A fall in prices is not seen in the near future.

In India , it runs so,

a kilo of onions costs Rs 65 ($1.44)
a liter of petrol costs Rs 65 ($1.44)
a bottle of beer costs Rs 65 ($1.44)

India practises socialism. Do not the above quotes substantiate its proclamation?

As the Indian economy grows, more and more people are moving out of poverty and joining the teeming middle class.The population is becoming self reliant as there is shift towards a low dependency ratio. Twenty years from now there will be a rise in the working age population from 1022 million to 7812 million. India will have more mouths to feed.

The chance of achieving a double digit growth looks dim as food inflation is taking its toll. To harness growth and development the government should focus on increasing agricultural production.