Bangalore: As the new financial year starts today, residents of Bengaluru brace yourselves for shelling out more for essential commodities and transport services, as price hikes across multiple sectors kick in.
The cost of milk, waste management, metro fares, and bus tickets has been hiked by the Congress-led state government, putting additional pressure on household budgets in India's tech capital.
The hospitality industry, already facing challenges due to rising electricity tariffs, fuel costs, and the prices of essential goods, is now grappling with the impact of the increased costs of Nandini milk and curd, which are key ingredients in many hotel offerings. As a result, hoteliers are now contemplating price hikes for tea, coffee, snacks, and meals.
The price revision, which came into effect on April 1, sees the cost of milk and curd increase by Rs 4 per litre, while electricity tariffs have been raised by 36 paise per unit. These increases, which directly affect the hotel industry, are expected to result in a price adjustment for food items in restaurants.
Citizens are grappling with the latest electricity tariff hikes and the financial implications of smart meter installations. Just two weeks after implementing a 36 paise surcharge per unit to cover employee payments, electricity supply companies have now introduced a 10 paise reduction in energy costs per unit. However, this small relief is overshadowed by an increase in fixed charges, which have risen by Rs 100 per kW.
The Karnataka Hotel Owners’ Association is planning a meeting soon to discuss the rate hike, which is anticipated to range between 10-15 percent, with new prices likely to be implemented in April itself. With the cost of groceries, milk, LPG cylinders, and electricity continuing to rise, hoteliers have little option but to increase prices.