INFLATION AND ITS IMPACT ON INDIAN ECONOMY

ABSTRACT Inflation has long been the common mans concern about economy. In regular social discourse and everyday conversation inflation is commonly referred as the synonymous index for the price hike of daily commodities. Though inflation is the most immediate economic parameter to be associated with the hike of price, it has its long and far reaching effects on the society and social concerns. Globally the strong currencies those control the monetary strategies in the international level are less vulnerable to the effects of global inflation than the currencies of the poorer and developing nations. So in respect of obtaining a better view of the effects and influence of inflation on the society we need to take mainly the experience of poor and developing nations which are commonly termed as Third World. This paper analyses the effects of inflation on our countrys economy that emerged in the recent past.