Commodity and wage inflation creating hyperinflation in India – India can head towards depression if Government cannot check the inflation
Kiran Chaube
Apr. 6, 2008

It is the saga of Central and South America again. Those economies followed US policies and opened their borders to US companies in seventies and early eighties. First there was a boom and then they eventually faced hyperinflation an their currencies lost most of the value. These countries are still struggling and their population are being driven to US in hope for better life.

Less than prudent fiscal and economic policies of the current Congress Party led Government has created a total mess for Indian economy. On one hand the best talent of the country is busy servicing the low-end intellectual jobs of America and Europe. On the other hand Indian industrialists and so called leaders of India Inc. are wasting money in buying failed companies at high premium with borrowed money.

The country has not addressed the issues related to hyperinflation in commodities especially petroleum products. The wholesale price based inflation crossed 4 per cent by the end of January and 5 per cent in February. As per the latest data, the price line rose 7 per cent in the week ended March 22.

The trend in hyperinflation in clear. India will either check the inflation with a recession or else will melt into a deep depression.

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