Much of India's inflation is not due to local supply-demand factors. You must keep in mind even during NDA tenure, inflation was over 7% for the entire 2001. This was when the price of oil fluctuated within the band of USD 20-30 per barrel. Today it flucuates in the band of USD 140-150 per barrel.
As long as oil spirals, there is nothing anything any government in the world can do. Even in Saudi Arabia, Russia, the two top oil exporters, are experiencing double digit inflation.
Similarly, our stock markets have collapsed. We can blame the government only when Indian stock markets collapse. But this isn't the case. All over the world stock markets have collapsed.
The government of India has taken steps -curbing exports of essential commodities and tightening monetary policies. This will take some time to kick in.
The Nuclear deal is part of the long term strategy to curb inflation as it relates to energy security. It makes our dependence on oil that much lower. Without power, we cannot sustain our high growth rates.
The BJP only fools people that they have a magic wand to curb inflation. They have no solutions which they have made public
