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Cascading effect

The galloping inflation and its cascading effect on the prices of all essential commodities hits the common man hard. It has already made life miserable for a vast majority of people in the country. It is unfortunate that the Centre remains clueless on how to contain inflation and rising prices. Measures by the Finance Minister with the RBI have yielded little results as the interest rate hike announced by various banks on housing and consumer loans has spelt further doom for the middle class. While the middle class can somehow manage the situation with some belt tightening measures, the plight of nearly 70% of the population who live below the poverty line is difficult to imagine and highly pitiable. The Finance Minister rather than taking concrete steps to tame inflation is busy issuing sermons to the common man to learn to live with high inflation and rising prices. The inflationary prices can be contained only if the Government slaps a blanket ban on speculative trading of food grains and takes strong action against hoarders and black marketers.

J.ANANTHA PADMANABHAN,

Tiruchi-6.

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