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Therefore, I would like to know what sort of stringent measures have been taken against them.  So far, nothing has been reported.  I think, the hon. Finance Minster would apprise us as to what actions have been taken against the hoarders and against the profiteers. 

            Sir, the Government is now propounding the idea that inflation is a manifestation of the demand and supply gap; hence, concerted efforts are required to be intervened on both sides of demand and supply. In his Budget Speech, the hon. Finance Minister stressed on this very point of demand and supply.  On the one side, we have to moderate the demand and on the other side, we have to strengthen our system by fiscal measures and improvement on the Public Distribution System.  So, in regard to controlling and monitoring the inflation, it is reported that one High-Powered Committee for monitoring prices of essential commodities was set up.  That Committee has made several recommendations to check inflation.  We have also seen some written answers given by the hon. Finance Minister in regard to checking inflation stating the recommendations and the steps that the Government is going to take.  But no result is visible so far.

            The WPI for all commodities has risen by 29 points since the UPA has come to power and thanks to your governance and administration, every month you have added one point for the inflation and one point for the price rise. I think if that makes you happy, I have no grouse about it.

My only contention is that you came with the slogan of being with aam admi – Congress ka haath, aam admi ke saath. If at all today anybody can say that anybody has done vishwasghat to  amm admi, it is the UPA and the Congress Party because he also very well knows that WPI is one thing and CPI is another thing. When I say CPI, it is not Communist Party of India because you always dream of them; it is Consumer Price Index. You know that all the economists that if WPI is ‘x’ amount, CPI is WPI plus 100-150 points. Today the inflation is hovering around 6.7 per cent. The RBI’s tolerance band was 5.5 per cent. You only announced that it is 5.5 per cent. It has crossed 5.5 per cent more than twice. If it is 6.7 per cent today and if it is going to cross 7 per cent, then what will be the Consumer Price Index? It will be more than 8.5 per cent or 9 per cent. Then, what will happen to the food articles, to the vegetables, to the fruits, to the pulses and to the dals? What will happen to the common man? [s54]  This is the basic question. Therefore, I want you to introspect on the reasons for this happening in the last three years. Why have you been unable to check the spiraling inflation and price rise?

            Now, let us take the case of wheat procurement this season. I am talking of the year 2006-2007. The Centre exerted tremendous pressure on wheat growing States to restrain private traders from procurement. The farmers in Punjab and Haryana were up in arms against the order, and threatened to boycott FCI.[r55] 

  17.00 hrs.             They threatened to boycott the FCI.  Why should we let farmers suffer  when the Central MSP is so low and when private traders offer better price.  They want us to restrict them.  This is what officials say.  Though the Government is stating day in and day out that they are taking various measures to control price rise, to control inflation, nothing is happening.  Nothing is happening at the ground level.  Therefore, they need to take a lesson during the period between 1977 and 1979 as well as during the regime of NDA under Shri Vajpayee, as to how to control prices.  You may be telling or giving figures but the ground situation during those years – two and a half years and six years – were entirely different.  Essential commodities were at the reach of the common man, the poor sections of the society.  They were not suffering.  The technical term you use for this price rise is `overheating of the economy’. It is not `overheating of the economy’ because the Government of India today is putting every blame on two things. Firstly, supply side constraints. Secondly, recently, the hon. Finance Minister said that inflation expectations loom large in most parts of the world.  Therefore, many Central banks have responded to actively tighten the liquidity so that inflation is held in check.  That means, you feel that inflation is a global problem.  I accept that it is a global problem.  But what is the local or domestic solution for this inflation?  Therefore, we feel that the Congress Party or the UPA is not with aam aadmi, it is with khas aadmi. It is with Quottorochi; it is not with the common man.  You are not with the common man.

            Therefore, today, my dear Finance Minister this nation demands from you an explanation that in the last three years, especially in the last one and half years, what have you done to check inflation, to check price rise?  I can go on reading the various head lines – Wheat prices soar, strain home budget; Soya, palm oil too rising; No respite on pulses; Deceptive figures: Consumer prices much higher than WPI; Inflation soaring due to rise in the prices of primary and food articles.