BHOPAL
: Chief minister
Kamal Nath fired a fresh salvo at the
Narendra Modi government on Wednesday over rising inflation and dwindling jobs in the country, warning that inflation is at a peak and business on the brink of collapse.
“Employment has vanished, unemployment is at its peak, jobs are vanishing, inflation is soaring and food items are becoming expensive. Vegetable, pulses, edible oil, onion — everything is getting out of reach. GDP is falling and trade and business on the brink of collapse,” CM Nath tweeted on the back of reports that retail inflation has soared to a six-year high of 7.35%. Food inflation has accelerated to 14.12% from 10.01% a month ago as vegetable prices shot up by a whopping 60.5%.
Also, onion prices contributed to the surge in food inflation that has risen steadily since March 2019. Wholesale price inflation also shot up to a seven-month high of 2.6% in December, higher than expected. It has breached the upper end of RBI’s 2%-6% target band for the first time since July 2016.
Stay updated with the latest news on Times of India. Don't miss daily games like Crossword, Sudoku, and Mini Crossword.
Start a Conversation
Post comment