Dr. Duvvuri Subbarao is next governor of Reserve Bank of India (RBI). Subbarao replaces the Y V Reddy, whose tenure ends this week.
Subbarao is currently serving as the finance secretary in the central government.
Apparently, Subbarao takes over the mantle of the central bank at one of the most challenging times for the economy of this country. With the general elections around the corner, Subbarao will sure be in the hot seat.
Let us wish him good luck!
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Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts
Monday, September 1, 2008
Sunday, August 31, 2008
Stagflation
This is the new word that I came across today
Stagflation is an economic condition where the economy faces stagnation and inflation simultaneously. In macro economics, Inflation and Recession are considered to be mutually exclusive. However, during 1970s, the worlds economy and thus India's too; went into a simultaneous Recession and Inflation.
Economists consider Stagflation is a rare scenario and thus is difficult to get out of. If we attempt to treat the inflation, then the recession worsens and vice versa.
Stagflation is an economic condition where the economy faces stagnation and inflation simultaneously. In macro economics, Inflation and Recession are considered to be mutually exclusive. However, during 1970s, the worlds economy and thus India's too; went into a simultaneous Recession and Inflation.
Economists consider Stagflation is a rare scenario and thus is difficult to get out of. If we attempt to treat the inflation, then the recession worsens and vice versa.
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