As the corona infection rises, the inflation graph is starting to rise again. It has ruined the kitchen budget of the general public. In the last 20 days, the price for spices has increased. The average price of pulses is Rs. 10 per kg. And the price of mustard oil and refined oil has been increased from Rs 14 to Rs 30 per liter. The price of canned milk for children has gone up by Rs. The 320 rupee box is now available for Rs 340.
Meanwhile, night curfew and partial closures in various parts of the country have resulted in a business loss of about Rs 46,000 crore. All India Traders Federation (CAT) has made this claim. According to the CAT, the statistics are based on information from nine states. CAT national president BC Bhartia and national general secretary Praveen Khandelwal made the announcement on Tuesday.
Prices are rising because of procurement
There is an artificial shortage of foodstuffs in the state, says Ramesh Talreja, general secretary of Bihar State Retailers Association. All India Traders Federation President Kamal Nopani said profitability could be a major factor in inflation. The increase in restrictions as the transition progresses will lead to large traders with a tendency to accumulate the necessary inventory amid fears of lockdown. The administration should look into this. The level of spice production in the country has not increased. Says spice tycoon Rakesh Kumar – Some big business people want to take advantage of this by looking at the possibility of locking down. Furthermore, the deteriorating situation in other states of the country has had the effect of disrupting the supply chain of spices. Patna supplies Golki from Kerala, Cumin from Madhya Pradesh, Chilli from Rajasthan. The main reason for the rise in oil prices is that there is no supply in terms of demand. General Secretary of Bihar State Food Practitioners Association, Naveen Kumar says – Oil supply from Bharatpur in Rajasthan and other places has been reduced by 25 per cent in Patna. In Patna, there are about ten truckloads of oil per day, but only seven to eight trucks are supplied. A weak oilseed crop is also one of the reasons for the price increase.
46,000 crore loss due to night curfew: CAT
It is estimated that in the last ten days of nightly curfew and partial closure in various states of the country, there has been a loss of nearly Rs 32,000 crore in retail trade and a total loss of Rs 14 thousand crore. Corona and Curfew is a loss of Rs 4400 crore in Delhi. So far, the retail business in Delhi has suffered a loss of about Rs 3000 crore and the wholesale business a loss of about Rs 1400 crore. All India Traders Federation (CAT) has made this claim. According to the CAT, the loss in retail trade in Maharashtra is around Rs 10,000 crore and in wholesale business this figure is around Rs 6,000 crore. About 1200 crores in retail business in Hatt 600 crore in losses and wholesale business. The retail business in Gujarat is worth around Rs 4800 crore. And the wholesale business is worth around Rs 2200 crore. The loss of retail in Karnataka is around Rs 4300 crore and the loss of wholesale business is around Rs 1950 crore. In Punjab, retail sales are around Rs 900 crore, while wholesale business losses are around Rs 350 crore. 1900 crores in retail in Rajasthan. And Rs 850 crore in wholesale trade. The loss in retail trade in Madhya Pradesh is around Rs 1700 crore, while the loss in wholesale business is around Rs 750 crore. The retail loss in Uttar Pradesh is around Rs 3800 crore and the wholesale shortage is around Rs 1500 crore.
60 percent of consumer markets are not coming
The rapid rise in corona cases and the imposition of night curfews and partial lockdowns in various states have caused fear in the minds of the general public, business leaders said. Because of this, 60 percent of consumers are not coming to market. That is why there is a loss in the retail market. However, the root cause of loss in business is loading and unloading of goods. Towing or unloading of trucks in markets across the country occurs overnight, and many states have no night curfew, which has a major impact on loading and unloading of goods. In general, trucks across the country are banned and trucks are allowed to enter the city only after 9 pm and there are many problems with unloading and transporting goods due to the night curfew, which has affected interstate commerce.
The economy will lose 25 1.25 billion every week: Report
Local lockdowns in the country’s major centers cause an average loss of nine thousand crores (25 1.25 billion) per week. Also, it could affect the Gross Domestic Product (GDP) growth rate of 1.40% in the first quarter of the current financial year. According to a report by UK brokerage firm Barclays, if current sanctions remain until the end of May, it could result in a total loss of $ 5.5.5 billion in economic and commercial activity and a 0.34 per cent GDP at current prices.
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