Apart from Durga Puja, the biggest festival of Bengal and Bengalis - Lakshmi Puja, Kali Puja, Diwali, Bhaiphonta, Jagaddhatri Puja - fell in the same month.
Kolkata: While the national retail inflation rate reached 6.21 percent in October this year, West Bengal is in a comfortable position among the top 10 state economies in the country. The retail inflation rate in this state was recorded at 4.63 percent in October. It is noteworthy that the Reserve Bank of India (RBI) has set an upper limit for inflation at 6 percent. The national inflation rate has crossed that upper limit. On the other hand, Bengal's figures are much lower than that. It should be remembered that this October was the festival season in West Bengal. Apart from Durga Puja, the biggest festival of Bengal and Bengalis - Lakshmi Puja, Kali Puja, Diwali, Bhaiphonta, Jagaddhatri Puja - fell in the same month. During this time, shopping is abundant in Bengal, and people also spend.
According to the Union Ministry of Statistics and Programme Implementation, the country's rising inflation is mainly due to skyrocketing vegetable prices, which have caused misery for every household across the country. India's retail inflation rate, which was 4.87 percent in October 2023, has jumped to 6.21 percent, which is seen as a clear indication of the country's economic instability. According to the data provided by the Centre, the national inflation rate in rural areas reached 6.68 percent, while in urban areas it was 5.62 percent. Despite these challenges, West Bengal's inflation figures indicate a more controlled environment, which is comforting for the state's residents and businesses alike. Economic experts have credited the state government's effective price control mechanism and robust agricultural production for the low inflation in West Bengal. The state's inflation rate has provided stability to consumers, making it easier for families and businesses to plan better finances. The state's residents have expressed relief at being spared the shock of national price hikes.
A housewife from Kolkata said, “We are grateful that the prices of vegetables here have not increased as much as in other parts of the country. This has enabled us to meet our daily expenses without any significant pressure during the festive season.” West Bengal’s performance stands as a bright spot in the national economic scenario, which can serve as a model for other states in dealing with inflationary pressures and expectations of economic stability, according to prominent economic experts.
Kolkata: While the national retail inflation rate reached 6.21 percent in October this year, West Bengal is in a comfortable position among the top 10 state economies in the country. The retail inflation rate in this state was recorded at 4.63 percent in October. It is noteworthy that the Reserve Bank of India (RBI) has set an upper limit for inflation at 6 percent. The national inflation rate has crossed that upper limit. On the other hand, Bengal's figures are much lower than that. It should be remembered that this October was the festival season in West Bengal. Apart from Durga Puja, the biggest festival of Bengal and Bengalis - Lakshmi Puja, Kali Puja, Diwali, Bhaiphonta, Jagaddhatri Puja - fell in the same month. During this time, shopping is abundant in Bengal, and people also spend.
According to the Union Ministry of Statistics and Programme Implementation, the country's rising inflation is mainly due to skyrocketing vegetable prices, which have caused misery for every household across the country. India's retail inflation rate, which was 4.87 percent in October 2023, has jumped to 6.21 percent, which is seen as a clear indication of the country's economic instability. According to the data provided by the Centre, the national inflation rate in rural areas reached 6.68 percent, while in urban areas it was 5.62 percent. Despite these challenges, West Bengal's inflation figures indicate a more controlled environment, which is comforting for the state's residents and businesses alike. Economic experts have credited the state government's effective price control mechanism and robust agricultural production for the low inflation in West Bengal. The state's inflation rate has provided stability to consumers, making it easier for families and businesses to plan better finances. The state's residents have expressed relief at being spared the shock of national price hikes.
A housewife from Kolkata said, “We are grateful that the prices of vegetables here have not increased as much as in other parts of the country. This has enabled us to meet our daily expenses without any significant pressure during the festive season.” West Bengal’s performance stands as a bright spot in the national economic scenario, which can serve as a model for other states in dealing with inflationary pressures and expectations of economic stability, according to prominent economic experts.
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