2007年VOA标准英语-India's Economy Races Forward Despite Inflation

By Anjana Pasricha
New Delhi
15 February 2007

As India's economy grows at a scorching¹ pace, high inflation and rising food prices are beginning to hurt the poor. Anjana Pasricha reports from New Delhi, the government says it is taking steps to moderate prices.

Durgawati earns $50 a month working as a part-time cleaning maid in Gurgaon, a posh area on Delhi's outskirts². A recent $5 raise in her salary means little to her.

Durgawati says despite the salary increase, she has had to cut down on the food she buys for her family, because prices of everything from lentils and grains to vegetables and milk have risen hugely in the last year. 

Office workers walk near Mumbai Stock Exchange building (file photo)  
  
India's booming economy has raised the standard of living for the 300 million-strong middle class. But the vast proportion of the country's poor are grappling with the inflation that has accompanied the boom. Inflation currently stands at more than 6.5 percent - its highest level in two years.

Property prices in some cities have more than doubled and apartment rentals³ are up by more than 50 percent in the last two years. The stock markets have risen more than fourfold over the past four years. Prices of steel and cement are at all-time highs.

The rising prices are causing concern that the economy may be overheating. For millions of poor people like Durgawati, a recent government forecast that the economy will grow at more than nine percent for the second year in a row has little meaning.

Inflation has begun to hit the headlines, however, and the government has gathered its top economic advisors⁵ to deal with the problem. It says lowering prices is a "key short-term priority."

Import duties on items such as cement and edible⁶ oils have been cut. The central bank has raised interest rates to curb⁷ a wave of buying on credit. There is also a proposal to lower fuel prices, which are partly blamed for stoking inflation. Economists⁸ are looking for these measures to have an impact over the next several months.

Saumitra Chaudhuri, an economic advisor⁴ with the credit rating agency ICRA, says inflation is always a key concern in rapidly growing economies. He credits the government with trying to solve the problem.

"If you are going to grow at 9.2 percent, 8.5 percent, or 8 percent, or any one of these levels, inflation will be something that you have to watch out for. If we don't take necessary steps, it can get a bit out of control, but I think the government on the fiscal⁹ side, and Central Bank on the monetary¹⁰ side, has been trying to get a fix on inflation," he said. 

An Indian homeless mother feeds her child at feeding program for the poor in Hyderabad (2006 photo)  
  
Political analyst¹¹ Mahesh Rangarajan points out that the Congress Party came to power in 2004 on promises of improving the lives of the poor.

He says rising food prices could turn out to be political dynamite¹² for the party, which is in the midst of state elections in the Punjab, Manipur and Uttaranchal this month. The country's most populous¹³ and politically significant state, Uttar Pradesh, goes to the polls in April.

"Historically inflation has been a very critical, political factor in India. It is logical, because one out of every four people is below as the poverty line, and a much larger number is probably just above that line," he said. "Given that the government came to power [and] Congress Party [is] saying it is the government of common man and woman - the common man and woman will be asking questions: what it has actually done for them?"

Independent political analyst Prem Shanka Jha says the government will have to pay more attention to those being left behind.

"Any rapid growth you are going to get winners and losers," he said. "It is part of our duty to be simultaneously¹⁴ thinking about the losers, even as we are applauding and delighting in the success of the winners."

Political analysts¹⁵ say the government will have to pay increasing attention to improving the lot of the poor as it prepares for national elections in two-years' time. Economists, meanwhile, worry that steps taken to rein¹⁶ in inflation could dampen economic growth.

1 scorching   

adj. 灼热的

参考例句：

• a scorching, pitiless sun 灼热的骄阳
• a scorching critique of the government's economic policy 对政府经济政策的严厉批评

2 outskirts   

n.郊外，郊区

参考例句：

• Our car broke down on the outskirts of the city.我们的汽车在市郊出了故障。
• They mostly live on the outskirts of a town.他们大多住在近郊。

3 rentals   

n.租费，租金额( rental的名词复数 )

参考例句：

• In some large hotels, the income derived from this source actually exceeds income from room rentals. 有些大旅馆中，这方面的盈利实际上要超过出租客房的盈利。 来自辞典例句
• Clerk: Well, Canadian Gifts is on the lower level. It's across from Prime Time Video Rentals. 噢，礼品店在楼下，在黄金时刻录像出租屋的对面。 来自口语例句

4 advisor   

n.顾问，指导老师，劝告者

参考例句：

• They employed me as an advisor.他们聘请我当顾问。
• The professor is engaged as a technical advisor.这位教授被聘请为技术顾问。

5 advisors   

n.顾问，劝告者( advisor的名词复数 )；（指导大学新生学科问题等的）指导教授

参考例句：

• The governors felt that they were being strung along by their advisors. 地方长官感到他们一直在受顾问们的愚弄。 来自《现代汉英综合大词典》
• We will consult together with advisors about her education. 我们将一起和专家商议她的教育事宜。 来自互联网

6 edible   

n.食品，食物；adj.可食用的

参考例句：

• Edible wild herbs kept us from dying of starvation.我们靠着野菜才没被饿死。
• This kind of mushroom is edible,but that kind is not.这种蘑菇吃得，那种吃不得。

7 curb   

n.场外证券市场，场外交易；vt.制止，抑制

参考例句：

• I could not curb my anger.我按捺不住我的愤怒。
• You must curb your daughter when you are in church.你在教堂时必须管住你的女儿。

8 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

9 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

10 monetary   

adj.货币的，钱的；通货的；金融的；财政的

参考例句：

• The monetary system of some countries used to be based on gold.过去有些国家的货币制度是金本位制的。
• Education in the wilderness is not a matter of monetary means.荒凉地区的教育不是钱财问题。

11 analyst   

n.分析家，化验员；心理分析学家

参考例句：

• What can you contribute to the position of a market analyst?你有什么技能可有助于市场分析员的职务？
• The analyst is required to interpolate values between standards.分析人员需要在这些标准中插入一些值。

12 dynamite   

n./vt.(用)炸药(爆破)

参考例句：

• The workmen detonated the dynamite.工人们把炸药引爆了。
• The philosopher was still political dynamite.那位哲学家仍旧是政治上的爆炸性人物。

13 populous   

adj.人口稠密的，人口众多的

参考例句：

• London is the most populous area of Britain.伦敦是英国人口最稠密的地区。
• China is the most populous developing country in the world.中国是世界上人口最多的发展中国家。

14 simultaneously   

adv.同时发生地，同时进行地

参考例句：

• The radar beam can track a number of targets almost simultaneously.雷达波几乎可以同时追着多个目标。
• The Windows allow a computer user to execute multiple programs simultaneously.Windows允许计算机用户同时运行多个程序。

15 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

16 rein   

n.疆绳，统治，支配；vt.以僵绳控制，统治

参考例句：

• The horse answered to the slightest pull on the rein.只要缰绳轻轻一拉,马就作出反应。
• He never drew rein for a moment till he reached the river.他一刻不停地一直跑到河边。