New Delhi: With the hike of milk, petrol, diesel and CNG prices in the country, the onus may now be on every Indian’s budget. These are all items that millions of families use daily and even a slight increase in price can make a difference in daily living.Agriculturt
Amul has recently raised the price of milk by approximately ₹2 per litre in various milk variants. Meanwhile, petrol, diesel, CNG prices have also risen in various regions across the country. This could make life more expensive for the average Joe, according to experts.
Milk plays a significant role in the lives of every household in India. Milk is consumed in nearly all parts of the day, from morning tea and coffee, to children’s breakfast and sweets. The family that had been purchasing 2 litres of milk daily could be forced to pay an additional ₹100-150 each month. This might not seem like much, but if fuel and shipping expenses increase as well.
The price of petrol and diesel are expected to be the first to be impacted. Those who commute daily and ride a bike, car, auto or taxi may find themselves having to pay more. Ola or Uber may have to charge more and the auto-rickshaw drivers will also have to increase their fares to meet fuel costs.
Notable the increase in the price of diesel which is mainly used in trucks and transport vehicles.The majority of vegetables, fruits, groceries and packaged foods are shipped long distances to markets. If it becomes too costly to transport, the retailers and business owners may raise their product prices. Consequently, the cost of foodstuffs and essentials could also ticked up in the coming weeks.
Can also impact a lot of city dwellers if CNG prices increase. If the buses, autos and private vehicles in the cities are operated on CNG, people can experience of increased traveling expenses. If fuel costs continue to be high for an extended period of time, public transport operators may also have to raise ticket prices.
Small businesses can also have some problems. Milk and transportation are crucial for the tea stalls, restaurants, grocery shops and food vendors. They may raise their prices if the costs rise or cut the amount of products produced so that they won’t lose money. A tea seller who uses milk on a daily basis, for instance, would have to pay a lot more monthly after the new surcharges.
The lower classes and middle class will be most affected. Lots of salaried persons who are already paying their school fees, electricity bills, rent and EMIs might find it difficult to save money. If household costs continue to rise, daily wage workers and small shop owners may find their financial situation tight.
One worry, experts say, is inflation. Inflation means the general increase in prices of goods and services. Fuel is linked to nearly all of the business segments, such as agriculture, transportation, and industry. In other words, as the price of the fuel goes up, the price of other products also goes up!
There could also be issues with farmers as tractors, water pumps and transporting crops rely on diesel. This may result in increased vegetable and grain prices in local markets over the longer-term, as production costs in the farms increase.
The previous price increases are occurring for a couple of reasons. Internationally, crude oil prices have been volatile due to international tensions and supply worries. Meanwhile, dairy producers claim prices are going up as the cost of cattle feed, packaging and shipping have increased.
With the price of fuel on the rise, many are now concerned that their household budgets may be even tighter in a couple of months. Some experts feel that the government should act to curb inflation and to ease the pain of the common man.
In all, the recent hike in milk and fuel prices can significantly impact almost any Indian household directly or indirectly. Although the individual hikes may seem minor, they can add up to millions of people’s monthly costs of living nationwide.
