India has not experienced true hyperinflation in its post-independence history. However, the mid-1970s, particularly 1974-75, saw unusually high inflation rates (reaching over 20% in 1974) primarily due to the global oil shock and domestic factors like drought and expansionary fiscal policies. This period stands out for its inflationary challenge compared to the other options provided.
Which was the year of hyper inflation?
Asked in MPSC CS Prelims 2012 · Topic: Money & Banking (Inflation: Types, Causes, Effects, and Monetary Policy Responses)
More Economic Development questions
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