ontent      xvii
         Reform Measures                           6.6    Reflation                                  7.8
         The lPG                                   6.7    Stagflation                                7.8
         Liberalisation                            6.7    Inflation Targeting                        7.8
         Privatisation                             6.8    Skewflation                                7.9
                                                          GDP Deflator                              7.10
         Globalisation                             6.9
                                                          Base Effect                               7.10
         Generations of Economic reforms          6.10
         First Generation Reforms (1991–2000)     6.10    Effects of Inflation                      7.11
         Second Generation Reforms                6.11    Inflation in India                        7.13
         (2000–01 onwards)                                Wholesale Price Index                     7.13
         Third Generation Reforms                 6.13    Revised WPI                               7.14
         Fourth Generation Reforms                6.13    Consumer Price Index                      7.15
         the reform Approach                      6.13    Revision in the CPI                       7.16
                                                          Trends in Inflation                       7.18
      7. INfLAtION AND BuSINESS               7.1–7.30    Healthy Range of Inflation                7.21
         CYCLE                                            Producer Price Index                      7.22
                                SECtION-A                 Housing Price Index                       7.22
         Introduction                              7.2    Service Price Index                       7.23
         Definition                                7.2    Government Steps to Check Inflation       7.24
         Why Inflation Occurs                      7.3
         1. Pre-1970s                              7.3                         SECtION-B
         2. Post-1970s                             7.3
                                                          Introduction                              7.25
         3. Measures to Check Inflation            7.4
                                                          Depression                                7.25
         Types of Inflation                        7.5
         1. low Inflation                          7.5
                                                          recovery                                  7.26
         2. Galloping Inflation                    7.5    Boom                                      7.26
         3. Hyperinflation                         7.5    recession                                 7.27
         Other Variants of Inflation               7.6    Growth recession                          7.28
         I. Bottleneck Inflation                   7.6    Double-Dip recession                      7.28
         II. Core Inflation                        7.6
                                                          Abenomics                                 7.29
         Other Important terms                     7.6
                                                          Conclusion                                7.30
         Inflationary Gap                          7.6
         Deflationary Gap                          7.6 8. AGrICuLtur AND fOOD                   8.1–8.57
         Inflation Tax                             7.6    MANAGEMENt
         Inflation Spiral                          7.6    Introduction                               8.3
         Inflation Accounting                      7.7
                                                          Kharif & rabi                              8.4
         Inflation Premium                         7.7
         Phillips Curve                            7.7
                                                          food Philosophy of India                   8.4