Friday, March 22, 2019

Achhe Din: 18-month low Inflation at 2.33% compared to over 10% during UPA

Media houses and compromised journalists have been asking the rhetorical question – have the Achhe Din (good days) come for common man?  With the high decibel narrative being dished out by fake media which thrives on a certain color to the countries working, media seems to make some people actually believe that they are better off today.  The Stats, however, objectively, tell a different story!

Achhe Din: 18-month low Inflation at 2.33% compared to over 10% during UPA @narendramodi #AchheDin #ProudBharatiya Click To Tweet

Here are some very important insight from the data released by the Ministry of Statistics and Programme Implementation

  • Retail inflation declined to 18 month low of 2.19% in December 2018Prices of fruits, vegetables and fuel have declined.
  • Inflation based on Consumer Price Index (CPI) in November was 2.33%.  The previous low was 1.46% in June 2017.
  • Rate of price rise in fruits, vegetables, and protein-rich eggs continues to decline!
  • Fuel and light inflation was 4.54% in November 2018 vs December 2017’s level of 7.39%

The prices of the most important food commodities are falling!  Can you believe it?  In India, after the double digit inflation rates of the UPA rule, we have not seen anything above 6% since it started its downward trajectory in late 2014.  The inflation rate is now close to 2%!

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source: tradingeconomics.com

If this is not “Achhe Din”, one is not sure what is?  And, to argue that even when inflation has fallen from over 10% to 2% – specially with tremendous decline in inflation of fruits and vegetables, “nothing has changed for the common man” – is just pure nonsense and fake narrative!

There was a time when during UPA – prior to 2014, these headlines were common.  One just has to go back in memory and remember where we were

So, if the naysayers are to be believed then this will be the first time in the history of global economics that inflation falls 5 times and nothing changes on the ground! So either economics in itself is a useless discipline or these analysts are talking absolute nonsense.

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