Chherawala, Tasneem and Trivedi, Smita Roy <br/><br/>
The inflation–growth conundrum: Are we heading towards stagflation? 

 - Economic & Political Weekly  
 - 60(14), Apr 5, 2025: p.14-17 
<br/><br/> The in¬flation–growth debate has taken centre stage presently, with the central bank policy rate<br/>actions under scrutiny from the financial press and corporate India. The inflation–growth relationship is anlaysed granularly, probing the data to understand if growth and credit synergies exist and the impact of inflationary headwinds on both. The article finds evidence of a credit–growth dichotomy, inflation surges and employment uncertainties. Inflationary expectations data suggest the trajectory of anticipated inflation to be moving up and question whether we are standing at the brink of stagflation. It is argued that on the policy front, there is a need for close monetary–fiscal policy coordination to prevent a move to a stagflationary scenario.- Reproduced <br/><br/>https://www.epw.in/journal/commentary/inflation-growth-conundrum.html<br/>