Money means labour. When labour is applied on anything, money is produced. Money does not grow on the tree. It is very hard work, burning midnight oil, sweating labour that becomes money which is produced in the fields, mines, ports and in industries. Supply, demand and prices are inter-related, one affects the other; in other words prices of the commodities depend upon the supply and demand. The present crisis of inflation is sum and total supplies and demands of crude oil of the petroleum and agricultural products.
The price of one barrel of petroleum has gone up to $100. In future the prices will go on soaring since the petroleum deposits are limited and will not last more than 50 years of consumed at the present rate. Every Tom, Dick and Harry is consuming and burning the valuable fossil fuel recklessly. The mushrooming of automobile industries are playing havoc. Practically everyday new cars and two-wheelers are launched. There is a craze amongst the people to purchase new models of automobiles irrespective of their financial status. The banks are providing car loans to even the insolvents. All governments of the world are giving subsidies on petroleum products to please the common people. The cooking gas is sold in subsidized rate of 330 per cylinder. Its actual cost at present would be Rs 600 per cylinder. The Prime Minister has already warned against the indiscriminate subsidizing of items. The subsidized commodities are not for the relief of the common people but it is a political compulsion of the leaders to keep themselves incumbent.
The remedy of soaring inflation lies in Gandhian philosophy, simple living and high thinking, trusteeship and non-possession ie aparigarh.
The agricultural products are declining as compared to previous years. Instead the production should rise to meet the growing demands of the everyday increasing population of the world which is at present 6.5 billion people. The wheat production in Australia, America, Canada and China has gone down much low. The corn is used for the production of ethanol which is added in petrol in the US and Brazil. This has caused the price rise of the corn all over the world. It is used as staple food in many Latin-American countries and in Mexico.
All these factors are responsible for the high rise of the prices of wheat, rice and maize. One fifth of the world's population lives in India. The 1.1 billion people of India are depending upon the hapless Indian farmers who are simple by heart and do not know the arithmetics and the economics of the cunning and crafty world. The Indian farmer is still the same character as had been depicted by the great novelist Prem Chand in his writings.
RK Gupta
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