Indian hyperinflation reaches 7.61% but India commence minister calls Indian growth unstoppable
Juhi Singhal
May 10, 2008

The food items like fruit, tea, condiments and spices as well as manufactured goods like locomotives, railway wagons, non-ferrous metals - you name it, are in the middle of a wave of hyperinflation in India.

The latest increase in the wholesale price index (WPI) based annual rate of inflation, which rose to 7.61 per cent for the week ended April 26, the highest since November 12, 2004 is hurting the common people of India.

Indian middle class can get wiped like in central and South America in seventies and eighties if India is unable to check the hyperinflation.

The inflation data was accompanied by a massive, and perhaps unprecedented, 110 basis points revision to the provisional inflation rate for the week ended March 1, 2008.

Indian finance minister is an academician like US Fed Chairman Bernanke. These academicians are taking their respective economies into deep holes of stagflation and recession.

The Government of India led by incompetent politicians wants to check the inflation through draining liquidity and raising interest rate. At the same time an ignorant and less informed Indian Commerce Minster Kamal Nath has come out said “Economists say spiraling crude oil prices and a depreciating rupee have again emerged as fresh pressure points for inflation, as imports will become costlier.” ''China's growth rate is much better than ours today but what was it 14 years ago?'' he asked while defending the title of his book, ''India's Century''.

The ignorant and incompetent Kamal nath of India forgot the basic law of economic in a global economy – hyperinflation is followed economic downturn because of lack of liquidity and higher rates.

Indian hyperinflation reaches 7.61% but India commence minister calls Indian growth unstoppable
Juhi Singhal
The ignorant and incompetent Kamal nath of India forgot the basic law of economic in a global economy – hyperinflation is followed economic downturn because of lack of liquidity and higher rates.
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