International Journal of Social Science & Economic Research
Submit Paper

Title:
THE INFLATION DYNAMICS IN INDIA SINCE 2005

Authors:
ANISHA SAWHNEY , KAVITA INDAPURKAR

|| ||

ANISHA SAWHNEY1 , KAVITA INDAPURKAR2
1. Student, Amity School of Economics, Amity University, Uttar Pradesh, 201303, India
2. Professor, Amity School of Economics, Amity University, 201303, India

MLA 8
SAWHNEY, ANISHA, and KAVITA INDAPURKAR. "THE INFLATION DYNAMICS IN INDIA SINCE 2005." Int. j. of Social Science and Economic Research, vol. 4, no. 4, Apr. 2019, pp. 3112-3125, ijsser.org/more2019.php?id=233. Accessed Apr. 2019.
APA
SAWHNEY, A., & INDAPURKAR, K. (2019, April). THE INFLATION DYNAMICS IN INDIA SINCE 2005. Int. j. of Social Science and Economic Research, 4(4), 3112-3125. Retrieved from ijsser.org/more2019.php?id=233
Chicago
SAWHNEY, ANISHA, and KAVITA INDAPURKAR. "THE INFLATION DYNAMICS IN INDIA SINCE 2005." Int. j. of Social Science and Economic Research 4, no. 4 (April 2019), 3112-3125. Accessed April, 2019. ijsser.org/more2019.php?id=233.

References
[1]. Kavita Indapurkar (2015) "Inflation targeting in India - issues and challenges", International Journal of Business Quantitative Economics and Applied Management Research.
[2]. Trisha Jolly and Kavita Indapurkar (2017) "Demonetization and Sustained Growth in Indian Economy", International Journal of Economic Research.
[3]. Rudrani Bhattacharya and Abhijit Sen Gupta (2017) "Drivers and impact of food inflation in India", MRPA.
[4]. C.S.C Sekhar, Devesh Roy and Yogesh Bhatt (2017) "Food inflation and food price volatility - trends and determinants", IFPRI Discussion paper.
[5]. Thangzason Sonna, Dr. Himanshu Joshi, Alice Sebastian and Upasana Sharma (2014) "Analytics of food inflation in India, RBI working paper series.
[6]. Milton Friedman, "The role of monetary policy", American Economic Association.
[7]. Dr. Padmasani and K. Kasthuri (2018) "The impact of monetary policy on Indian economy", International Journal of Management Studies.
[8]. Manju S Nair (2014) "Inflation dynamics in India - an analysis", MRPA.
[9]. Donald J Harris (2007) "The classical theory of economic growth", The New Palgrave Dictionary of Economics.
[10]. Rudrani Bhattacharya and Abhijit Sen Gupta (2015) "Food inflation in India - caouses and consequences", National Institute of Public Finance and Policy.
[11]. A Orphanides and J Williams (2004) "The theory of rationally heterogeneous expectations".
[12]. JM Roberts (1998) "Inflation expectations and the transmission of monetary policy".
[13]. Nagabushana Rao, P. Chenchu Reddy, A.M Mahaboob Basha, P. Srinivasulu and K. Sai Pranav (2013) "A Study on Inflation in India", International Research Journal of Social Sciences.
[14]. Tim Callen and Dongkoo Chang (1999) "Modelling and Forecasting Inflation in India", IMF.
[15]. Enrique Martinez-Garcia "Inflation as a Global Phenomenon -some implications for inflation modelling and forecasting".
[16]. Daisuke Ikeda (2013) "Monetary Policy and Inflation dynamics in asset price bubbles".
[17]. C Zhang "Globalization and Changing Inflation dynamics"
[18]. L Ball (2016) "Understanding Inflation in India"
[19]. Jagdish P Sahu (2013) "Inflation dynamics in India: hybrid New Keynesian Phillips curve approach"
[20]. RBI working paper (2009) "Regional Inflation dynamics in India"
[21]. RBI working paper (2019) "Inflation expectations of Households in analysis of Inflation dynamics in India"

Abstract:
Inflation, that is termed as sustained rise in prices of goods and services over a period of time is the most talked about area of economics that influences the common life of the people most so much so that they have influenced the politics of the country as well. It is the monetary policy that aims at dealing with inflation that affects the economy as a whole, however, the fiscal policy of the country also has a considerable role to play when it comes to incidence of inflation. Inflation is a typical macroeconomic variable, the fine tuning of which is important to ensure adequate expansion of the economy that contributes to economic growth and employment. Economic growth raises employment thus increasing the demand for goods and services, fuelling inflation (demand pull) on one hand but at the same time a higher economic activity in the economy leads to increase in the supply thus sufficing the risen demand. But since this comes with a lag, there is inflation is the economy. However, whatever explains the phenomenon, incidence of inflation, particularly, food inflation, further out affordability of the grasp of the poor in the country, thus pinching the poor the most. The present paper makes an attempt to understand the applicability of Phillips curve in Indian economy. It also aims to study the various inflation that exist in the economy, particularly food and fuel inflation and the factors that contribute towards the same. Further it analyses the impact of inflation on economic growth.