• Karan Deshwal

The inflation has turned out to be more volatile during the subsequent period (2001-2022) than the previous sub-periods. The instability and uncertainty in the economy are dangerous for the growth of the economy. Monetary and fiscal measures should be adopted to stabilized the irregular behavior of inflation in India. The study has established that the growth rate in CPI was higher than the WPI during recent decades and this gap is increasing continuously. CPI is more comprehensive and highly concerned to ordinary consumers. The threat of such inflation required to be reduced. Hence, the government should establish a high powered committee to investigate the reasons for increasing such gaps. During recent decades, India is experiencing the transmission of inflation from other parts of the world. Ministries concerned should closely watch and control this effect. Industrial production, during recent decades, has been proved as an effective supply-side variable which has the capacity to control the inflation in the Indian economy. Therefore, the governments at both center and state levels should facilitate industrial production. Due to the high dependence on imports for crude oil, its prices are causing inflation in the Indian economy. Efforts should be made to improve the domestic production and dependence on imports should be reduced substantially. During recent decades, a significant positive relationship has been discovered between money supply and inflation. Therefore, the monetary policy committee (MPC) in India should closely monitor the growth in the money supply.

INFLATION,Monetary.fiscal measures

"INFLATION IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 1, page no.c677-c685, January-2023, Available :http://www.jetir.org/papers/JETIR2301285.pdf

"INFLATION IN INDIA", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 1, page no. ppc677-c685, January-2023, Available at : http://www.jetir.org/papers/JETIR2301285.pdf