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INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016 Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI) |
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| Paper Title: | Macroeconomic Analysis of Inflation's Impact on Unemployment and Economic Growth and their Relationship in India (1990-2023) |
| Authors Name: | Hardeep Singh |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJNRD_206573
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| Published Paper Id: | IJNRDTH00088 |
| Published In: | Volume 8 Issue 10, October-2023 |
| DOI: | http://doi.one/10.1729/Journal.36623 |
| Abstract: | ABSTRACT According to the Global Hunger Index 2022, which places India at a respectable 107th place, the stark fact that 29.1% of its people live below the poverty line has made inflation a key macroeconomic problem in the country. The fact that the average yearly pay in India is so low—just 1,38,840 Rs. —adds to the difficulty. The goal of this study is to examine inflation patterns and how they affect the unemployment rate and the pace of economic growth, two crucial macroeconomic indicators. The study is divided into five chapters, with the introduction detailing the objectives, problem statement, and restrictions of the study. In the second chapter, a thorough literature study that examines several academic publications is conducted. The third chapter provides an overview of the research methodology, which uses a descriptive study design and statistical techniques including regression analysis and correlation coefficients to explore the connection between unemployment, inflation, and economic growth. According to recent trends, developed economies continue to experience inflation rates between 0.1% and 3.1%, whereas low-income developing countries experience inflation rates between 6.5% and 8.3%. Inflation in Bhutan is declining, although it is rising in Pakistan and Sri Lanka because of outside influences like China's economic influence. Inflation in India has averaged over 4% over the previous five years, while the world economy has grown by more than 3%. Notably, South Asia's economies have continued to expand at good rates thanks to both Bangladesh and India. The importance of macroeconomic policies that support economic development, job creation, and inflation management is emphasized as this research comes to a close. Although monetary policy aims to lower unemployment and accelerate economic development, its effectiveness frequently falls short. According to research, growing economies like India tend to benefit from moderate or low inflation rates, whereas high inflation rates are harmful. Regression analysis and correlation coefficients show a modest association between inflation and economic growth, with the latter mainly unaffected by changes in inflation. Similar to job creation, unemployment also shows little sensitivity to changes in inflation. In conclusion, this analysis highlights the complex interactions that exist between inflation, economic growth, and unemployment in India's macroeconomic environment, highlighting the need for careful policy formulation to deal with these urgent economic issues. |
| Keywords: | Inflation, Economic Development, Unemployment, |
| Cite Article: | "Macroeconomic Analysis of Inflation's Impact on Unemployment and Economic Growth and their Relationship in India (1990-2023)", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.8, Issue 10, page no.567-616, October-2023, Available :http://www.ijnrd.org/papers/IJNRDTH00088.pdf |
| Downloads: | 000118775 |
| ISSN: |
2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
| Publication Details: |
Published Paper ID:IJNRDTH00088 Registration ID: 206573 Published In: Volume 8 Issue 10, October-2023 DOI (Digital Object Identifier): http://doi.one/10.1729/Journal.36623 Page No: 567-616 Country: Ludhiana, Punjab, India Research Area: Commerce Publisher : IJ Publication Published Paper URL : https://www.ijnrd.org/viewpaperforall?paper=IJNRDTH00088 Published Paper PDF: https://www.ijnrd.org/papers/IJNRDTH00088 |
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ISSN: 2456-4184
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