Stagflation

Stagflation

Dr. Amartya Kumar Bhattacharya

BCE (Hons.) ( Jadavpur ), MTech ( Civil ) ( IIT Kharagpur ), PhD ( Civil ) ( IIT Kharagpur ), Cert.MTERM ( AIT Bangkok ), CEng(I), FIE, FACCE(I), FISH, FIWRS, FIPHE, FIAH, FAE, MIGS, MIGS – Kolkata Chapter, MIGS – Chennai Chapter, MISTE, MAHI, MISCA, MIAHS, MISTAM, MNSFMFP, MIIBE, MICI, MIEES, MCITP, MISRS, MISRMTT, MAGGS, MCSI, MIAENG, MMBSI, MBMSM

Chairman and Managing Director,

MultiSpectra Consultants,

23, Biplabi Ambika Chakraborty Sarani,

Kolkata – 700029, West Bengal, INDIA.

E-mail: dramartyakumar@gmail.com

Website: https://multispectraconsultants.com

Stagflation. What is it? It is economic stagnation plus inflation. Something like what India is passing through now.

The ship of the Indian economy is sailing through rough seas. The GDP growth rate is low. Factory output is falling. Inflation is rising. Bank interest rates are declining. Senior citizens who live on the interest earned on their savings put in banks are finding their purchasing power reduced. The common Indian masses are finding this winter chillier than usual - well, metaphorically not physically. The Asian Development Bank predicts that the Indian slowdown will continue in 2020. If one takes a look at the websites startupindia.gov.in and agnii.gov.in, one will find recent Indian innovations to be few and far between.

So, what is to be done? Something, most certainly. Several Indians sigh and shrug and blame it on the corruption prevailing and say that corruption has entered into the bones of the Indian system. Well, let us change the system then by having a zero tolerance towards corruption and by taking direct action against those who are corrupt. Corruption is unpatriotic and those who are corrupt are traitors.

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