‘Had expected steps to boost ease of living’

G. Premkumar discusses rising costs of essential commodities, high home loan interest rates, and the need for government intervention.

Name: G. Premkumar

Annual Income : ₹5,00,000

Number of members in the family : 4

I expected the Budget to have announcements that would make our daily lives easier. The cost of almost all essential commodities is high. For instance, the price of pulses and vegetables is rising regularly, and that of gold and silver has reached a level that has made them unaffordable for most middle-class families. While one gram of gold costs around ₹7,750, one gram of silver is priced at ₹105. How could we afford them?

The government should take measures to bring down the cost of LPG cylinders. Look at the interest rates on home loans. When I got a home loan in 2021, the rate of interest was 6.95%. Around a year ago, the interest rate was increased, and it stands at 9.45% today. Measures to reduce home loan interest rates and increase the rates on fixed deposits should be brought in.

I take up painting, electrical and plumbing work on a contract basis. The cost of materials has also increased over the years. We seem to have got no respite from escalating costs.