The main opposition Congress has slammed the Narendra Modi government for increasing retail prices in the country. Retail inflation rose to 4.38 percent in June. The Congress has alleged that price hikes under BJP rule have eroded the budget and savings of common people’s households. The opposition also questioned when Prime Minister Narendra Modi would talk about the increased financial burden on the common citizens of the country.
According to government data released on Monday, consumer price index (CPI) inflation rose to 4.38 percent in June, mainly due to a rise in food prices. This is the first time inflation has exceeded the Reserve Bank of India’s target of 4 per cent in the new CPI series with a base year of 2024.
Congress general secretary Jairam Ramesh has posted a post on social media X strongly criticizing the Modi government in this regard. In the post, he said that the real nature of the Modi government in the last 12 years has been to make false promises and impose price hikes and unemployment on people.
Jairam Ramesh added that the price hike in the last 12 years of the Modi government has completely destroyed the budget of a typical family. Retail inflation hit a 17-month high of 4.38 percent in June, according to official data. In rural areas the rate is a more alarming 4.74 percent. He feared that the rise in prices could lead to a further hike in bank interest rates in the coming days and as a result the EMI burden of a middle class house or car would go up manifold.
The Congress leader slammed the Modi government for protecting the interests of capitalists and asked why all the profits go into the pockets of capitalists and all the burden falls on the shoulders of the common man. He asked, when Prime Minister Narendra Modi, who patronizes the capitalists, will talk about the suffering of the common people?
The overall index rose to 4.38 percent in June from 3.93 percent in May, according to the Office for National Statistics. Similarly, food inflation rose to 5.32 percent in June from 4.78 percent in May. Inflation stood at 4.74 percent in rural areas and 3.92 percent in urban areas as against the national average of 4.38 percent in June.
Data showed that silver, gold, diamond and platinum jewellery, as well as ginger, carrots, raisins and monakka, were among the commodities that saw the biggest price increases in June. Prices of potatoes, peas, automobiles and jeeps, cumin and motorcycles and scooters have increased relatively less.