“Economics can be made more productive by paying greater and more explicit attention to the 'ethical' considerations that shape human behavior and judgments." Says Nobel laureate Dr. Amartya Sen.
It is almost three years now since I took a conscious decision to retire prematurely from an exceptionally fulfilling and absorbing professional career of more than thirty and half years to pursue my subjects of interests. However, the recent past high inflation has already started making holes into my pockets, forcing me to rethink on that decision and join back the services.
The latest release of the statistics on inflation blames high prices of food items, especially now on onions, led to a sharp spike in India's annual food inflation to 18.32 percent for the week ended Dec. 25, 2010, compared to 14.44 percent the week before. The fifth straight week of rise in food inflation rate, based on wholesale prices, was pushed back to double digits in the second week of December, according to weekly data released by the commerce and industry ministry.
In the recent past some of our eminent economists, policy makers and lawmakers at seminars had opined that the double digit inflation is caused by some of exogenous factors; is a worldwide phenomenon and due to present high growth rate of economy – vociferously condemning Monsoon as one of the biggest culprit (when every excuse has exhausted blame it on “God–Varuna” - is the best adage) and had suggested prophetically that inflation will be brought down to around 6% before the end of the year [2010], but did not have any foreseeable technically viable Road Map either ‘A’ or ‘B’ in place to demonstrate their tall claims. The roles of others–who are also partners in the overall Supply Chain Management (SCM) in more than dozen other states and are condemning high price rise at the top of their voice, and recently executed “Bharat Bandh” successfully…!?, reasoning steep government expenditures being the cause…, were also totally confused and wanting, and don’t have any viable alternative techno–political solutions either.
It’s high time that holistic solutions to these problems, like addressing SCM relating to agriculture – cultivation, production, storage and distribution, harnessing nexus of cartelization…; are genuinely well thought-out ‘jointly’ by all on long term basis and implemented at the earliest to ameliorate the sufferings of the “Aam Admi”.
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In the back drop of uncontrolled high inflation for the past so many months now in the country; it is heartening to know that Department of Food & Public Distribution under the Ministry of Consumer Affairs Food & Public Distribution along with Federation of Indian Chambers of Commerce and Industry (FICCI) and Central Warehousing Corporation (CWC) has initiated a National Conference on Policy for Storage, Handling and Transportation of Food Grains on 19th February 2011 to discuss and deliberate to review national policy on storage, handling and transportation of food grains, review of existing and emerging grain storage practices; PPP in warehousing sector, perspective on bulk transportation of food grains in India and financing ware housing infrastructures.
It’s high time that holistic solutions instead of knee jerk reactions, to these problems, like addressing other SCM issues relating the agriculture, like, cultivation, production, irrigation – delinking dependence totally on the monsoon, reining of nexus of cartelization; take in the loop the other stakeholders, etc., are intelligently, genuinely well thought-out on long term basis and implemented at the earliest to ameliorate the sufferings of the “Aam Admi”.
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