Laghu Udyoug Bharti Ludhiana sees country’s future in dark

Ludhiana, August 22, 2013: A meeting of office bearers of Laghu Udyoug Bharti, Ludhiana was held to discuss the rising prices.

The meeting observed that US Dollar has increased sharply in last one month which has resulted in big jolt to the economy of India. With depreciating rupee the prices of petrol, diesel, steel, rubber, carbon black, yarn etc. have gone up which have resulted in increase in production cost leaving the country in clutches of high inflation.

It was felt that the cost of basic ingredients have sky rocketed. The basic increase in freight has resulted in increase in food commodities which is killing normal man, price of yarn has also gone up which has resulted in increase of basic clothing prices.  Steel prices have gone up which has affected the construction business.  The essentials of one human being ''roti- kapada- makan'' (food, clothing and shelter) is out of reach of common man.

Exporters who are happy but in silent mode as the overseas buyers are cancelling order due to increase in rupee value in dollar term they are asking for discounts on the items received and are due for payments.

It was further observed that prices of electronics have gone up due to import.  Industry who is importing machinery is facing heat due to heavy increase in price in rupee/ dollar terms, leaving them in loss.

Exporter who have take loans in dollar terms are facing huge loss as the day which they had taken loan the value of dollar in rupee terms was different to the day which they have to return.

Small and Micro Industry which rely on big units are facing crunch  due to heavy inflation and are finding themselves in dark future.

The Centre has proved to be fail, the meeting felt.  It observed they cannot control the fluctuation and which has resulted in high inflation.  The two worlds best economist prime minister and the finance minister have be proved total flop in controlling the inflation. 

The meeting also observed that it see India's future in dark, for which common man will have to pay the price.

Among present in the meeting were Rajeev Jain (president), Dinesh Lakra (state president), Vinod Jain, Lalit Sharma and Neeraj Ghambir.