What measures are taken by government to control prices or reduce infl – InterviewSolution

1.	What measures are taken by government to control prices or reduce inflation?
Answer» To control unscrupulous rise in prices of essential goods in market, government supplies food items at subsidised prices through Public Distribution System. For preventing hoarding and keeping prices at reasonable level, government fixes prices of commodities like kerosene, diesel, gas, etc. through various laws. When there is price rise, RBI reduces the money circulation in the economy. Then it poses taxes on high-income groups and on many consumer goods. Government also uses Import – Export policy to regulate the prices of essential goods. Government also use legal mechanism whenever traders create shortage by hoarding.

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