Thursday, 21 January 2016

IMPACT OF INFLATION ON COMMOM MAN


When I was studying in the college we got very nice English Professor by name MR Srinivasan who was always ready to share with us everything which include his achievements and his dreams about his students. One day in the morningsession during his class he distributed chocolate to every one of us and when enquired about the reason behind it he told the following story.

He has got a prize from a famous weekly in ourstate that is Tamil Nadu for his contributioncarrying a small incident has brought him the same.  The story goes like this: When he is correcting the answers papers of the first year student he came upon a mistake done by a student in his paper. The mistake was that wherever he has to write RICE he has written as RISE. He has misspelt as “RISE”instead of “RICE”. When the professor noticed the point and asked the concerned student why such a mistake took place, the student replied that the price of rice is always rising and “RISE” is the opt word for “RICE”. So he gave the justification for his mistake. The professor told us this story and he wrote to the Weekly and the Weekly has acknowledged the same publishing it and gave the prize amount.

Afterhearing such a story I have thought of the students commonsense and intelligence and noticed the awareness about economics and inflation. Inflation play a vital role in fixing the price of commodity and there by manipulating the lifestyle of the common man. What is purchased for one rupee last year would not be sold for the same. The price would have gone up to twice or thrice the original price. A common man whose income is not doubled willnot be in a position to manage his day to day life with the result whether he has to settle for a lesser quality goods or borrow money from outside and become a permanent debtor.

Inflation is a curse or a blessing

Inflation is nothing but printing more and more money and letting it for circulation. The purchasing power of money would be gone and hence the common man is struggling to make both ends meet. Instead of allowing more and more money to be circulated the productivity of every citizen should be increased and thriftiness is to be encouraged.

The impact of inflation is felt in all aspects of life and by all .
Since money is said to be a good master but a bad servant saving habit should be inculcated in the minds of the children at the earlier stage of studying  and money values should be taught in theschool itself. Previously when we go the market we take some amount and come back with a bag full of whatever we have purchased. The days are not far off when we have to take a bag full of money to purchase a small quantity of things . Hence inflation should be viewed as a very significant and crucial point .Poor should not become poorer and the rich should not become richer. The rich should be taxed more.

This blog post is inspired by the blogging marathon hosted on IndiBlogger for the launch of the #Fantastico Zica from Tata Motors. You can apply for a test drive of the hatchback Zica today.

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