Rising Prices in India – Causes, Consequences and Remedies
Indian economy is one of the largest economies in the world. It isn’t surprising that India rank 11th in terms of nominal GDP (Gross Domestic Product) and 3rd in terms of PPP(Purchasing Power Parity). But this stupendous growth is accompanied by the emergence of new problems and challenges.And one of the most grave of them all is that of price rise. There has been widespread uproar regarding the skyrocketing prices of commodities of daily use. Both the government and the citizens have been facing a hard time due to its inability to put a check on the rising inflation rates. Causes: To analyze the causes we need to look at the internal and external factors. External factors include global inflation. For example, if an item is imported to India from…