Economy moves to low level of inflation in last 5 fiscals: Economic Survey
New Delhi: The country's inflation rate has moved to a more stable and low level in the last five fiscals, and controlling price surge remains a key policy focus area of the government, the Economic Survey for 2018-19 said Thursday.
Retail inflation based on consumer price index - Combined (CPI-C) fell to 3.4 per cent in 2018-19 from 3.6 per cent in 2017-18, 4.5 per cent in 2016-17, 4.9 per cent 2015-16 and 5.9 per cent in 2014-15, the Economic Survey 2018-19, tabled by Finance and Corporate Affairs Minister Nirmala Sitharaman in Parliament, said.
Retail inflation during the first month of the current fiscal stood at 2.9 per cent, down from 4.6 per cent a year ago.
Food inflation based on Consumer Food Price Index (CFPI) declined to a low of 0.1 per cent during the financial year 2018-19, the survey said.
"The Economic Survey states that the economy witnessed a gradual transition from a period of high and variable inflation to more stable and low level of inflation in the last five years.
"The government has taken a number of measures to control inflation specially food inflation," as per the survey.
Controlling inflation remains a key area of policy focus and the general measures such as regular monitoring of inflation, issuing advisories to states against hoarding and black marketing, holding regular review meetings on prices and availability of key commodities were taken to keep inflation in check, the survey said.
Higher Minimum Support Prices (MSPs) for pulses and other crops to incentivise production and setting up of Price Stabilisation Fund (PSF) for procurement of agri-horticultural commodities are among the other steps taken.
Specific measures such as releasing onions at reasonable prices, utilisation of pulses from buffer for strategic market interventions and to meet the requirements of the Army and Central Para-Military Forces were among the specific measures taken by the government, according to the survey.
The survey also finds that food inflation in the country has been extremely benign.
"Average food inflation for the financial year 2018-19 declined to a low of 0.1 per cent. The food deflation in the second half of 2018-19 is mainly due to deflation in vegetables, fruits, pulses and products, sugar and confectionary and eggs, which together account for 13.1 per cent rate in overall CPI-C," the survey said.
The year also witnessed reduction in both rural and urban inflation, while many states witnessed fall in retail inflation.
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Steel mirrors deployed in Mysuru to discourage public urination
Mysuru (PTI): Fed up with people relieving themselves along roadsides, the Mysuru City Corporation has adopted a unique strategy to curb the practice and promote civic sense by installing reflective steel mirrors along pavements, officials said on Friday.
In what officials described as a first-of-its-kind initiative, the Corporation installed stainless steel sheets with a mirror finish along an 80-metre stretch opposite the Mysuru Suburban Bus Stand.
Officials said the reflective sheets are intended to confront anyone attempting to urinate in public with their own reflection, thereby discouraging the act psychologically.
“The idea is to maintain cleanliness and hygiene, prevent public nuisance, and promote civic sense. It is a simple yet psychological approach that encourages self-awareness through reflection,” officials added.
Soon after the mirrors were installed, videos of the initiative went viral on social media, with many people appreciating the administration’s innovative attempt to address public urination. At the same time, some users pointed out the lack of basic civic sense among people.
Several social media users also suggested that more public toilets, maintained in a hygienic condition, were needed to further discourage open urination.
Explaining how the idea originated, Nitesh Patil, Administrator and Regional Commissioner of the Mysuru City Corporation, told PTI that despite a public toilet being located next to the bus stand, many people continued to urinate in the open.
Even fines and warnings failed to deter them from relieving themselves against vacant compound walls, leaving behind a foul smell.
“One of our engineers came up with this idea, and we decided to implement it. The initiative has received a very positive response from the public, social media, and the press. We are now planning to identify more such locations in the city and install similar reflectors,” he said.
According to him, to ensure that the installation is both effective and visually appealing, LED lighting that switches on along with the streetlights has also been added, causing the stretch to glow at night and enhancing the city’s appearance.
Patil said the initiative had helped create civic awareness while also beautifying the city.
“We want our city to be clean and hygienic. We aspire to become the cleanest city in the country,” he added, recalling that Mysuru secured third place nationally in the Swachh Survekshan Awards 2024–25 last year.
