Question

Write an article on any one of the following topics in about 100-150 words:
(c) Soaring prices and measures to control it.

Hint:

In economic articles, always consider both immediate and long-term solutions to issues like inflation, emphasizing sustainable practices.

Answer 1

Article: Soaring Prices and Measures to Control It Soaring prices, also known as inflation, have become a significant issue in many countries, including India. Rising prices of essential goods such as food, fuel, and healthcare have created financial strain on the common man. Reasons for Rising Prices:
One of the primary causes of rising prices is the increase in the cost of production, including raw materials and labor. Another factor is the imbalance between supply and demand, especially in sectors like food and energy. Inadequate supply due to poor infrastructure, climate change, or supply chain disruptions further exacerbates inflation. Measures to Control Soaring Prices:
The government and the central bank implement several measures to control inflation. The Reserve Bank of India (RBI) uses monetary policy tools such as increasing interest rates to control demand and stabilize prices. The government can also intervene by subsidizing essential goods or regulating their prices. Furthermore, improving supply chain infrastructure, promoting domestic production, and reducing import dependency are essential long-term solutions. Conclusion:
While short-term measures like price controls and subsidies can offer temporary relief, sustainable solutions require a comprehensive approach to boost supply, improve infrastructure, and stabilize the economy. Final Answer: \[ \boxed{\text{Soaring prices are caused by factors such as supply-demand imbalances and production costs. Effective control requires monetary policy, subsidies, and long-term infrastructure improvements.}} \]