There is no escape from very high inflation....The Government of India has a group of economists and statisticians who always glorify everything. They always talk about the recovery in the economy. The fact is that there is demand stagnation in many sectors of the economy and the rapid growth of the economy is just not possible, as the middle class has shrunk.
For example, the vast IT sector Managements have recruited the fresh graduates in thousands from the various engineering colleges and have sacked those in the age group of 40-45. These people, with as many as 15 years of experience, are forced to fend for themselves. All this is going on in the name of "competitiveness" and "performance". The facts are otherwise. The IT companies want to cut down cost and have done what they have thought is right.
The manufacturing sector employees are no different. The increments and the merit payments have not come. The Managements have given an excuse of less demand. The huge emphasis on contract labor is actively encouraged by the Modi administration.
In fact, the Government of India is so keen on contract labor without any social security. Hence, the economy is not growing, as only the top 10% are still driving the economy. For example, since a huge majority of this comfortable class has stayed at home, the likes of Zomato and Swiggy have made record profits in the past 18 months.
But the workers of Zomato and Swiggy who work in the field are paid a pittance. This is exactly why the service sector is growing only through the unorganized sector, and the massive number of small eateries are flourishing everywhere.
It does seem that the middle class have to bear with inflation , as the prices of essential commodities has already gone through the roof, thanks to GST and rising input costs. For example, take branded food products. Nothing is cheap now.
And the petrol prices have actually increased inflation, though the Government of India keeps on denying this.