ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Inflation: Sources, Challenges and Policy Options

Despite the range of monetarist, micro-behavioural and cost-push explanations for the recent episode of inflation that were presented at a seminar in New Delhi last November, there was general consensus that monetary tightening had failed to have its desired impact. Further, it was unclear whether India could afford the concomitant growth slowdown. Instead, a shift in policy focus to agricultural production and the distribution and pricing of strategic food and fuel commodities was seen as a more promising option.

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