COST AND PRICE

Cost is the total expenditure incurred for the manufacturing of a product or rendering a service. Price is the amount added to the cost towards profit and commission. Until a few decades ago the profit was limited to a sum around 10% of the cost, but it has no limit now.  In contemporary market the price of a commodity can be anything between 100% to 1000% or more of the cost. In the case of medicines,  the prices go above 1200% over the cost. There is no substantial reasons to convince the buyer about the exorbitant price. In today's world no manufacturer can presume that the buyer does not have any idea about the actual cost. The manufacturer at his will in collaboration with other manufacturers of the similar products just fix the price. They know that the buyer has no choice but to buy their products at their price.

While we Indians have ship loads of laws for anything and everything no authority finds any fault in the wide gap between the cost and price. Over and above this the manufacturers in connivance with the wholesalers and retailers increase the prices at every now and then. While the price rise of a commodity was within the range of 2% to 5% earlier, it is now 100% and more. Despite having no need for such a huge hike, no one questions them or seek explanation from them. While the media is heavily involving themselves in highlighting all and sundry items that can increase their viewership, they do not touch on the huge price rise of products those contribute them by way of advertisements. On the other hand the so called people's government is least attracted towards these unbearable price hike. Of course, we cannot expect any consolation from them because they themselves contribute heavily on the price rise of almost all commodities and services by unplanned hike in the prices of petrol and huge rate of GST.

Neither the judiciary nor the human rights commissions may never step into this issue. Should the people now approach God or godlike men?

KV George