Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Opinion / Online-views/  Inflated expectation
BackBack

Inflated expectation

On minister Beni Prasad Verma's claim that inflation will help farmers

Beni Prasad Verma. Photo: Hindustan TimesPremium
Beni Prasad Verma. Photo: Hindustan Times

It is not usual for the steel minister of the country to track inflation indices. But even by the United Progressive Alliance’s (UPA) lax standards, minister Beni Prasad Verma’s claim that inflation will help farmers falls in the “no bread, eat cakes" class.

Verma said “dal, atta, rice and vegetables have become expensive. The more the prices, the better it is for farmers. I am happy with this inflation".

The minister, presumably, is innocent of the fact that a large number of farmers in the country are net consumers and inflation ends up hurting them badly. Even in the case of farmers who have a surplus to bring to the market, the gap between the farm and the fork is so big that they are not the recipients of the kind of largesse the minister imagines is generated by inflation.

Forget the urban mass (that the UPA thinks is disaffected), inflation hurts the rural poor far more severely.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 20 Aug 2012, 09:38 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App