Explain the nature of inflation in India after independence.
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increase.............
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The nature of inflation in India:
- The war has led to inflation after independence in India. The supply of arms and an increase in tax to support the military base of Britain led to an economic crisis and outbreak of draught.
- Inadequate agricultural and industrial growth due to inefficient government expenditure and deficient financing during drought, scarcity of foods over the land.
- There was a rise in administered prices to cover up the losses in the public sector. Along with that rising import prices and taxes in order to raise additional financial resources.
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