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Tamil Nadu
They cut down on savings to meet increasing expenditure
| Education of our children remains top priority: Kumuthan |
The Kumuthan family.
Occupation: Self-employed
Residence: Pazhayapet
Size of family: Four
Monthly income: Rs.20,000
The soaring inflation and prices of essential commodities have made Kumuthans who live in Pazhayapet here to cut down on savings to meet the rising expenditure. The price rise has mainly affected their savings and investment plans.
Education of our children Chris Wellcy (Class XI) and Senthil (Class VIII) remains the top priority, says Kumuthan.
The spending for groceries, transportation and health had significantly increased in the recent past. A major share of the income now goes for buying provisions as the prices of several commodities have gone up. Post-inflation things have become very tough.
“We have reduced the daily ration of milk and other essential commodities. Meat is cooked only once a month,” Prema, his wife, points out.
The family has also cut down on the travel expenses. “We are now occasionally using the two-wheeler as the fuel prices and maintenance cost have gone up,” Mr. Kumuthan says. The family has also begun spending less for entertainment and stopped eating in hotels.
Says K.T. Kesavan, president, Krishnagiri Chamber of Commerce, people from the middle income groups in the district have started turning to the co-operative stores in large numbers to get the attractive rebate offers and quality products at reasonable prices.
According to Deva Perinban, State committee member, Communist Party of India, the Government should strengthen the public distribution system and provide essential food items at a subsidised rate to control inflation.
Agricultural labourers and marginal farmers are the worst affected due to the inflation, he adds.
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