NEW DELHI : For Delhi resident Suman Milind, rising prices in India are casting a long shadow this year over the upcoming Diwali festival of lights.
Millions of Indian households are facing similar strains on their budgets ahead of Diwali, which this year falls in early November and marks the country's busiest shopping season for consumer goods. "The sky-rocketing prices of petrol, cooking gas are unbearable when our earnings are still down by nearly 30per cent from the pre-pandemic period," said Sultan Singh Tomar, 53, who supplies incense sticks and kitchenware to shops in New Delhi on his scooter.
For months India's consumer-price-based inflation stayed above the central-bank's comfort level of 6per cent driven by a rise in food prices. There is not much that Prime Minister Narendra Modi's government can do to alleviate the pain as global crude oil prices hit a three-year high at US$85 a barrel, piling up the pressure on a country that imports 80per cent of its oil.
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