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  3. Education and health services pinching the pockets of middle class: Assocham study

Education and health services pinching the pockets of middle class: Assocham study

26 Oct 2015 Evaluate

Amid the skyrocketing retail prices of pulses and fear of spurt back in inflation, an Assocham study has stated that Inflation may have dropped significantly from last year, but most Indians still find prices of goods and services consumed on a daily basis growing beyond their comfort level.

The industry body in its study has said that despite fuel prices coming down and moderate rise in wages, the cost of education and health services, the two critical areas of interest to the middle class has gone up, much higher than the headline number of CPI for September of 4.41%. It noted that the CPI inflation for education was up close to 6 per cent and health 5.4 per cent for September, 2015. “With severe shortages of education and health facilities in the public sector, the middle class has to depend on the private sector schools, colleges and hospitals and their costs have become quite high.

The chamber's study showed that other items of use for the middle-class, like meat, fish, milk and milk products, have also seen significant price increase between 5 and 5.5 per cent.Assocham has further stated that 'While the RBI has in the last instance reduced the policy rate by 50 basis points, the average transmission is not above 30 bps despite so much of prodding by the government and the Reserve Bank of India (RBI)”.

Assocham Secretary General D S Rawat said that 'While the annual increase in prices of these services may not show huge rise, the base price of such facilities is so high that it is becoming increasingly difficult for a large number of people in cities and small towns to afford them.' He suggested that public expenditure on health and education be raised significantly, both at the Central and state government levels.

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