Inflation is a big problem for India. In my opinion inflation and poverty is parallel things. Inflation must be control as soon as possible for the progress of India.
Our country has the highest inflation compared to any other developing economy in the world.
One of the most intricate challenges of our present times is the problem of rising Inflation. Its effect can be felt by each and every person to at least some degree, whether he is an engineer, doctor, lawyer, govt. servant or anybody. Inflation makes no partiality in choosing its innocent victims.
Inflation affects both the economy of a country and its social conditions, as well as the political and moral lives of its inhabitants.
Many economic factors cause inflation to rise in a country. It tends to rise when the Government of a country prints money in excess, then the prices increase to keep up with this increase in currency and this leads to inflation. An increase in production and labor costs has a direct impact on prices of the final product and this as well results in inflation.
In the context of prices inflation means continuous rise in price level.
One of the main reasons of inflation is excess public expenditure like building of roads, bridges etc. Government should drastically scale down its non essential expenditure.
Together with the government to control inflation we all have to move steps.