The ‘red shoots’ of stagflation are becoming visible in the Indian economy. The term stagflation is a combination of stagnation plus inflation and was first used by the British politician Ian Macleod in 1965 when he said in a speech: “We now have the worst of both worlds—not just inflation on the one side or stagnation on the other, but both of them together. We have a sort of ‘stagflation’ situation.”
(Published 04 June 2022, 23:40 IST)
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