Inflation is nothing but general increase of lives in the products whichever we buy, which leads to decrease in purchase power. We measure inflation with: Consumer Price Index(CPI):average change over time in the prices paid by urban consumers for a market basket of consumer goods and services. ProdRead more
Inflation is nothing but general increase of lives in the products whichever we buy, which leads to decrease in purchase power.
We measure inflation with:
Consumer Price Index(CPI):average change over time in the prices paid by urban consumers for a market basket of consumer goods and services.
Producer Price Index (PPI): Measures the average change over time in the selling prices received by domestic producers for their output.
Several Factors affecting Inflation are:
- Demand pull inflation: It occurs when the demand for that product increases i.e., lesser the goods the more it costs.
- Built-In Inflation: When workers demand higher wages and, in response, companies increase the prices of their products to cover higher wage costs.
- Global Factors: International events, such as geopolitical instability or changes in global supply chains, can impact inflation. For example, the COVID-19 pandemic disrupted supply chains worldwide, leading to increased prices for many goods and services.
Green Revolution was launched in 1965 with the help of M.S. Swaminathan Green Revolution has a significant impact on Indian agriculture. It increased the agricultural production due to HYV (High Yielding Variety) seeds most notably in Haryana, Punjab and Uttar Pradesh. It made India world's one ofRead more
Green Revolution was launched in 1965 with the help of M.S. Swaminathan
Green Revolution has a significant impact on Indian agriculture.
While it was highly effective in short period in the longer run it did more harm than good
We can all agree it had it’s own limitations and success
We learnt many lessons from this