Union Budget 2025: What is stagflation and why should the government worry about it?

India's Finance Minister will present the FY26 budget on February 1, 2025. The term stagflation, describing simultaneous stagnant growth and high inflation, is important to understand. Former Prime Minister Manmohan Singh warned of potential stagflation in India. The 1970s US oil crisis offers a historical example. India's current economic slowdown poses a challenge to its growth goals.