NABARD Grade A ESI economic and social issue; chapter – Indian Economy, chapter : Inflation
The chapter on “Inflation” is an important topic under the Economic and Social Issues (ESI) section of the NABARD Grade A exam. It covers the concept of inflation, its measurement, and the factors contributing to inflation in India. Here is an overview of the topics covered in this chapter:
- Concept of Inflation: This section covers the definition of inflation, its types, and its causes. It also covers the difference between inflation and deflation.
- Measurement of Inflation: This section covers the various methods used to measure inflation, including the Wholesale Price Index (WPI), Consumer Price Index (CPI), and GDP deflator. It also covers the limitations of these measures.
- Factors Contributing to Inflation: This section covers the various factors that contribute to inflation, including demand-side factors such as consumer spending and investment, and supply-side factors such as cost-push inflation.
- Effects of Inflation: This section covers the effects of inflation on the economy, including its impact on purchasing power, interest rates, and the distribution of income and wealth. It also covers the effects of hyperinflation.
- Inflation Targeting: This section covers the concept of inflation targeting, its benefits, and its challenges. It also covers the role of the Reserve Bank of India (RBI) in managing inflation.
Candidates preparing for the NABARD Grade A exam should have a good understanding of these topics and their inter-relationships. They should also be able to analyze economic data and interpret inflation rates and trends. Additionally, they should be aware of the various measures and policies implemented by the government and the RBI to manage inflation in India.