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regular-article-logo Friday, 22 November 2024

Price rise a pet peeve of voters as dropping interest rates of bank deposits act as snag for money to grow

Lack of employment opportunities, along with price rise, has crippled the lives of many, says one voter

Subhajoy Roy, Debraj Mitra, Jhinuk Mazumdar, Snehal Sengupta, Samarpita Banerjee Calcutta Published 02.06.24, 09:37 AM
Representational image

Representational image File picture

Prices are pinching hard and there is barely any money left to save, said many voters across the city on Saturday.

The dropping interest rates of saving instruments like bank deposits are not allowing their money to grow. At the same time, the rise in the prices of food items, LPG cylinder and medicines is almost exhausting their earnings, they said.

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The double whammy was on the top of their minds when they voted in the Lok Sabha polls.

Satavisha Gupta, 28, a Jodhpur Park resident, has been working for five years. She said her father has asked her not to use their family car unless absolutely necessary.

“My father says petrol prices have risen to such an extent that it is makes no sense to take out the car. He always advises me to use public transport,” she said.

The petrol price had breached the 100-per-litre-mark across pumps in Calcutta in July 2021. The price in Calcutta on Saturday was around 104 per litre.

A 14.2kg domestic LPG cylinder costs 829 in Calcutta, a two-fold increase since March 2014 when the price was 410.

Gupta feels the salaried class are not getting the services commensurate with the taxes they pay.

“Also, look at the investment options. Bank deposit or PPF rates have fallen so much that we have to invest in riskier options like mutual funds, which promise better returns,” said Satavisha, who is a voter in the Kolkata South constituency.

Debeshi Sinha, a Gariahat resident in her mid-40s, said the prices of potatoes and onions have gone up in the last few years. The Chandramukhi variety of potato costs about 35 now. Even two months ago, it sold for 25.

Joya Roy Chowdhury, 70, a resident of Jadavpur, said medicine prices have gone up sharply and are impacting elderly people like her. Roy Chowdhury suffers from arthritis and spondylitis.

The medicines she takes cost about 1,500 a month some time ago. Now, they cost 2,000.

The high GST rate on almost all purchases was another peeve point that many voters mentioned.

Ayotakshi Chakraborty, who works in the marketing wing of a two-wheeler manufacturer, said the government should think about cutting GST rates as they are eating into “common people’s” income. She is a voter in the Jadavpur constituency.

A man at another booth in Jadavpur pointed out that the GST on health insurance is as high as 18 per cent. He had to pay about 3,500 as GST for an annual premium of
23,000 for a health insurance policy for his wife and himself.

Lack of employment opportunities, along with price rise, has crippled the lives of many, said Farhat Jahan, a 66-year-old resident of Garden Reach.

Farhat has been facing difficulty walking since she fractured her leg in 2015. She has been using a walker since last year.

Farhat’s husband worked as a mason but is jobless now. “We are barely pulling through. The prices of food, cereals and gas cylinder have skyrocketed. How will we survive?” she asked.

The welfare schemes offered by the government came in for praise. Krishna Bhattacharya, 39, a homemaker and resident of Tollygunge (Jadavpur constituency), said the money she receives from Lakshmir Bhandar helps support her family.

Some people felt the middle class are especially disadvantaged because there is none to think about their plight. While there are social welfare schemes for the poor and the rich are hardly bothered about price rise, the middle class suffer silently.

“Political parties should start offering something to the middle class, too. They
are sandwiched between the poor and the rich. The rich do not have to worry about price rise and the poor receive government support through welfare schemes,” said Sejal Jaiswal, 19, a student at a private university in New Town. Sejal is a voter in the Dum Dum constituency.

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