Fed’s Caution
The US Federal Reserve’s decision to lower its benchmark interest rate to a range of 4.25-4.50 per cent marks a turning point in its monetary policy.
The Congress on Friday said that it will hold a rally in Delhi on December 12 against fuel price rise and inflation. The rally will be addressed by Congress President Sonia Gandhi, Rahul Gandhi and other Congress leaders from across the country.
Congress General Secretary K.C. Venugopal in a statement said, “It will give a decisive warning to the present Modi government to stop its loot and reduce the backbreaking prices. We shall continue our struggle until the Modi government backs down.”
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The Congress said unprecedented price rise and inflation have demolished the earnings, the household income and budget of every family in the country.
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“People of India suffer unbearable cruelty and untold misery on account of the BJP government driven price rise and inflation. Budget of every household bleeds, even minimum nutrition suffers and people are finding it difficult to buy and consume day-to-day food articles as also other consumables,” he said.
He said the Modi government remains oblivious to this insurmountable pain and suffering of the people. “Backed by a section of the electronic media, the only solution offered by Modi Government is a divisive religious discourse or sporadic diversionary statements to reset the agenda from fundamental issues affecting the lives of the people.
“The real issues affecting people of India are the backbreaking prices of petrol, diesel and cooking gas, which have had a spiralling effect on the prices of all foods and other consumable items.
“Every home is affected by the merciless rise in prices of cooking oil, pulses and other food items. Perhaps for the first time, price of tomato has surpassed the price of petrol and diesel in India. Construction material like cement, iron and steel has seen a rise of nearly 40 per cent to 50 per cent.
“Everything is gradually going out of the reach of the common man. The Modi Government either remains indifferent to the woes and agony of ordinary Indians or mocks it on other occasions.”
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