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World food prices reach new peak since July 2011

  • Published
    11th Nov, 2021

Discuss the major causes of inflation in an economy? What can a government do to control inflation?  (250 words)

Approach:        

  • Introduce by describing the phenomenon of inflation and its effects
  • Elaborate on demand-pull and supply-push inflation, giving examples
  • Discuss the major reasons for an inflation in India - i.e food inflation, crude oil price rise, etc.
  • Discuss tools of fiscal and monetary policy available with the government to deal with inflation
  • Conclusion
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