{"id":61356,"date":"2024-10-18T14:14:07","date_gmt":"2024-10-18T08:44:07","guid":{"rendered":"https://www.5paisa.com/finschool/?p=61356"},"modified":"2025-04-23T15:17:16","modified_gmt":"2025-04-23T09:47:16","slug":"what-is-stagflation","status":"publish","type":"post","link":"https://www.5paisa.com/finschool/what-is-stagflation/","title":{"rendered":"What is Stagflation?"},"content":{"rendered":"\u003cdiv data-elementor-type=\u0022wp-post\u0022 data-elementor-id=\u002261356\u0022 class=\u0022elementor elementor-61356\u0022\u003e\u003csection class=\u0022elementor-section elementor-top-section elementor-element elementor-element-180a7ab elementor-section-boxed elementor-section-height-default elementor-section-height-default\u0022 data-id=\u0022180a7ab\u0022 data-element_type=\u0022section\u0022\u003e\u003cdiv class=\u0022elementor-container elementor-column-gap-default\u0022\u003e\u003cdiv class=\u0022elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cac4104\u0022 data-id=\u0022cac4104\u0022 data-element_type=\u0022column\u0022\u003e\u003cdiv class=\u0022elementor-widget-wrap elementor-element-populated\u0022\u003e\u003cdiv class=\u0022elementor-element elementor-element-cc7d404 elementor-widget elementor-widget-text-editor\u0022 data-id=\u0022cc7d404\u0022 data-element_type=\u0022widget\u0022 data-widget_type=\u0022text-editor.default\u0022\u003e\u003cdiv class=\u0022elementor-widget-container\u0022\u003e\u003cp\u003eस्टॅगफ्लेशन ही तीन गंभीर स्थितींच्या सह-अस्तित्वाची वैशिष्ट्ये असलेली आर्थिक परिस्थिती आहे: उच्च महागाई, स्थिर आर्थिक वाढ आणि उच्च बेरोजगारी. हे कॉम्बिनेशन असामान्य आहे कारण चलनवाढ आणि बेरोजगारी सामान्यपणे फिलिप्स कर्व्हनुसार उलट दिशेने जातात, ज्यामुळे सूचित होते की बेरोजगारी वाढत असताना महागाई कमी होईल आणि त्याउलट.\u003c/p\u003e\u003ch2\u003e\u003cstrong\u003eस्टॅगफ्लेशन म्हणजे काय?\u003c/strong\u003e\u003c/h2\u003e\u003cp\u003e\u003cimg fetchpriority=\u0022high\u0022 decoding=\u0022async\u0022 class=\u0022aligncenter wp-image-61595 size-full\u0022 src=\u0022https://www.5paisa.com/marathi/finschool/wp-content/uploads/2024/09/Stagflation-2.png\u0022 alt=\u0022Stagflation\u0022 width=\u0022500\u0022 height=\u0022500\u0022 srcset=\u0022https://www.5paisa.com/marathi/finschool/wp-content/uploads/2024/09/Stagflation-2.png 500w, https:/www.5paisa.com/finschool/wp-content/uploads/2024/09/Stagflation-2-300x300.png 300w, https:/www.5paisa.com/finschool/wp-content/uploads/2024/09/Stagflation-2-150x150.png 150w, https:/www.5paisa.com/finschool/wp-content/uploads/2024/09/Stagflation-2-50x50.png 50w, https:/www.5paisa.com/finschool/wp-content/uploads/2024/09/Stagflation-2-100x100.png 100w, https:/www.5paisa.com/finschool/wp-content/uploads/2024/09/Stagflation-2-96x96.png 96w\u0022 sizes=\u0022(max-width: 500px) 100vw, 500px\u0022 /\u003e\u003c/p\u003e\u003cp\u003eStagflation is an economic condition characterized by the coexistence of three key features:\u003c/p\u003e\u003col\u003e\u003cli\u003e\u003cp\u003e\u003cstrong\u003eStagnant Economic Growth\u003c/strong\u003e: This refers to a period of low or zero economic growth, which often results in high unemployment rates and a lack of job creation.\u003c/p\u003e\u003c/li\u003e\u003cli\u003e\u003cp\u003e\u003cstrong\u003eHigh Inflation\u003c/strong\u003e: Stagflation also involves rising prices, meaning that the purchasing power of money decreases. This inflation can erode consumer savings and make essential goods and services more expensive.\u003c/p\u003e\u003c/li\u003e\u003cli\u003e\u003cp\u003e\u003cstrong\u003eHigh Unemployment\u003c/strong\u003e: During stagflation, the unemployment rate tends to be elevated. Job seekers find it challenging to secure employment as businesses struggle to grow and may even lay off workers.\u003c/p\u003e\u003c/li\u003e\u003c/ol\u003e\u003ch2\u003e\u003cstrong\u003eHistory of Stagflation\u003c/strong\u003e\u003c/h2\u003e\u003cp\u003eThe history of \u003cstrong\u003estagflation\u003c/strong\u003e is most prominently associated with the economic conditions experienced during the 1970s, particularly in the United States. Here’s a detailed look at the evolution of stagflation, its causes, notable examples, and the impact it had on economic policy:\u003c/p\u003e\u003ch3\u003e1. \u003cstrong\u003ePre-Stagflation Context (1940s-1960s)\u003c/strong\u003e\u003c/h3\u003e\u003cp style=\u0022padding-left: 40px;\u0022\u003eAfter World War II, many Western economies, especially the U.S., experienced significant growth. The economy was characterized by low unemployment and stable prices. Economic policy was heavily influenced by Keynesian economics, which emphasized government intervention to manage economic cycles, often focusing on stimulating demand to counteract unemployment.\u003c/p\u003e\u003ch3\u003e2. \u003cstrong\u003eEmergence of Stagflation (Late 1960s – Early 1970s)\u003c/strong\u003e\u003c/h3\u003e\u003cp style=\u0022padding-left: 40px;\u0022\u003eBy the late 1960s, inflation began to rise due to factors such as the Vietnam War, increased government spending, and expansionary monetary policy. Inflation rates climbed to around 5-6%. Despite the inflation, economic growth began to slow down, leading to rising unemployment. This phenomenon was unprecedented, as traditional economic theory suggested that inflation and unemployment typically moved in opposite directions (the Phillips curve).\u003c/p\u003e\u003ch3\u003e3. \u003cstrong\u003eThe 1970s: The Era of Stagflation\u003c/strong\u003e\u003c/h3\u003e\u003cp style=\u0022padding-left: 40px;\u0022\u003eThe 1973 oil embargo by OPEC (Organization of the Petroleum Exporting Countries) caused oil prices to quadruple, significantly increasing production costs across various sectors. This supply shock contributed to rising inflation while simultaneously slowing economic growth. By 1974, the U.S. economy faced a combination of rising inflation (over 12%) and unemployment rates (around 8-9%). The situation worsened as inflation continued to rise, leading to a period of stagnant growth. The Nixon administration imposed wage and price controls in an attempt to curb inflation. However, these measures had limited success and led to shortages in some goods.\u003c/p\u003e\u003ch3\u003e4. \u003cstrong\u003eFurther Complications (Late 1970s)\u003c/strong\u003e\u003c/h3\u003e\u003cp style=\u0022padding-left: 40px;\u0022\u003e Inflation persisted into the late 1970s, exacerbated by a second oil shock in 1979, following the Iranian Revolution, which caused another surge in oil prices. The combination of high inflation and high unemployment became entrenched, leading to a prolonged period of economic malaise known as stagflation. The failure of traditional Keynesian policies to address stagflation led to a reevaluation of economic theory and the emergence of monetarism, championed by economists like Milton Friedman.\u003c/p\u003e\u003ch3\u003e5. \u003cstrong\u003ePolicy Shifts and Recovery (1980s)\u003c/strong\u003e\u003c/h3\u003e\u003cp style=\u0022padding-left: 40px;\u0022\u003eThe Reagan administration, starting in 1981, implemented monetarist policies aimed at controlling inflation through tighter monetary policy (raising interest rates) and reducing government spending. The Federal Reserve, under Chairman Paul Volcker, raised interest rates significantly, which initially led to a deeper recession but ultimately succeeded in reducing inflation. By the mid-1980s, inflation began to decline, and the economy entered a period of sustained growth, effectively moving away from the stagflation environment.\u003c/p\u003e\u003ch3\u003e6. \u003cstrong\u003eLegacy of Stagflation\u003c/strong\u003e\u003c/h3\u003e\u003cp style=\u0022padding-left: 40px;\u0022\u003eStagflation challenged existing economic paradigms and contributed to the development of new theories in macroeconomics, particularly those that incorporate expectations and the role of supply-side factors. The experience of stagflation influenced future monetary policy, leading central banks to prioritize controlling inflation alongside supporting growth. स्टॅगफ्लेशनच्या मेमरीने धोरणकर्त्यांना महागाईच्या दबावाविषयी सतर्क ठेवले आहे, विशेषत: आर्थिक प्रोत्साहनाच्या कालावधीदरम्यान.\u003c/p\u003e\u003ch2\u003e\u003cstrong\u003eस्टॅगफ्लेशनची कारणे:\u003c/strong\u003e\u003c/h2\u003e\u003col\u003e\u003cli\u003e\u003cstrong\u003eसप्लाय शॉक्स\u003c/strong\u003e:\u003c/li\u003e\u003c/ol\u003e\u003cul\u003e\u003cli\u003eसर्वात सामान्य कारणांपैकी एक म्हणजे अचानक पुरवठा धक्का (उदा. तेलाच्या वाढत्या किंमती). जेव्हा ऊर्जा किंवा कच्च्या मालासारख्या प्रमुख इनपुटचा खर्च मोठ्या प्रमाणात वाढतो, तेव्हा बिझनेस हे खर्च उच्च किंमतीद्वारे ग्राहकांवर जातात, ज्यामुळे महागाई होतो. त्याच वेळी, जास्त इनपुट खर्च नफा आणि आर्थिक वाढ कमी करतात, ज्यामुळे स्थिरता निर्माण होते.\u003c/li\u003e\u003cli\u003eउदाहरण: 1970 च्या तेलाच्या संकटामुळे अनेक पाश्चात्य अर्थव्यवस्थांमध्ये मंदी निर्माण झाली.\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e      2 \u003cstrong\u003eआर्थिक धोरणातील चुका\u003c/strong\u003e:\u003c/p\u003e\u003cul\u003e\u003cli\u003eविस्तारीत आर्थिक धोरणामुळे पुरेशा पुरवठ्याशिवाय अतिरिक्त मागणी निर्माण होऊ शकते, ज्यामुळे महागाई होऊ शकते. जर आर्थिक अधिकाऱ्यांनी खूप उशीर किंवा खूप कमकुवतपणे प्रतिसाद दिला तर ते महागाई वाढवू शकतात, तर आक्रमक कठोरता वाढवू शकते आणि बेरोजगारी वाढवू शकते.\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cstrong\u003e      3. Structural Issues\u003c/strong\u003e:\u003c/p\u003e\u003cul\u003e\u003cli\u003eSometimes, structural issues like inefficient labor markets, technological stagnation, or declining productivity contribute to slow economic growth. If these issues coincide with inflationary pressures, the result can be stagflation.\u003c/li\u003e\u003c/ul\u003e\u003cp\u003e\u003cstrong\u003e      4. Expectations of Inflation\u003c/strong\u003e:\u003c/p\u003e\u003cul\u003e\u003cli\u003eWhen businesses and consumers expect inflation to rise, they may adjust their behavior in ways that fuel actual inflation (e.g., businesses raise prices in anticipation, and workers demand higher wages, leading to a wage-price spiral). Combined with slow growth, this can trigger stagflation.\u003c/li\u003e\u003c/ul\u003e\u003ch2\u003e\u003cstrong\u003eConsequences of Stagflation:\u003c/strong\u003e\u003c/h2\u003e\u003col\u003e\u003cli\u003e\u003cstrong\u003eRising Unemployment\u003c/strong\u003e:\u003c/li\u003e\u003c/ol\u003e\u003cul\u003e\u003cli\u003eAs economic growth stagnates or contracts, businesses often reduce production and lay off workers, leading to rising unemployment. This situation is particularly damaging because it coincides with rising prices, making it harder for people to maintain their standard of living.\u003c/li\u003e\u003c/ul\u003e\u003col start=\u00222\u0022\u003e\u003cli\u003e\u003cstrong\u003eDeclining Purchasing Power\u003c/strong\u003e:\u003c/li\u003e\u003c/ol\u003e\u003cul\u003e\u003cli\u003eHigh inflation erodes the purchasing power of consumers, meaning people can buy less with their income. This worsens living conditions, particularly for those on fixed or lower incomes, and can lead to social discontent.\u003c/li\u003e\u003c/ul\u003e\u003col start=\u00223\u0022\u003e\u003cli\u003e\u003cstrong\u003ePolicy Dilemmas\u003c/strong\u003e:\u003c/li\u003e\u003c/ol\u003e\u003cul\u003e\u003cli\u003ePolicymakers face a difficult choice between focusing on fighting inflation (e.g., raising interest rates, which can further depress economic growth) or reducing unemployment (e.g., lowering interest rates, which can fuel more inflation). Traditional economic tools are less effective in addressing stagflation because they usually tackle inflation and unemployment separately.\u003c/li\u003e\u003c/ul\u003e\u003col start=\u00224\u0022\u003e\u003cli\u003e\u003cstrong\u003eLong-term Economic Damage\u003c/strong\u003e:\u003c/li\u003e\u003c/ol\u003e\u003cul\u003e\u003cli\u003eProlonged periods of stagflation can cause lasting damage to an economy, including lower investment, diminished consumer confidence, and reduced productivity. It can also create persistent fiscal deficits as governments increase spending to support unemployment benefits and other social safety nets.\u003c/li\u003e\u003c/ul\u003e\u003ch2\u003e\u003cstrong\u003eExamples of Stagflation\u003c/strong\u003e\u003c/h2\u003e\u003ch4\u003e\u003cstrong\u003e1. The 1970s Oil Crisis (U.S. and Global Economy)\u003c/strong\u003e\u003c/h4\u003e\u003cul\u003e\u003cli\u003eThe 1973 Oil Embargo by OPEC (Organization of the Petroleum Exporting Countries) led to a sharp increase in oil prices.\u003c/li\u003e\u003cli\u003eOil prices quadrupled, causing the cost of production for businesses to skyrocket, leading to widespread inflation.\u003c/li\u003e\u003cli\u003eAt the same time, economies slowed due to the rising cost of energy, and unemployment began to increase.\u003c/li\u003e\u003cli\u003eThe U.S. and other developed economies experienced high inflation (double digits in some cases), stagnant growth, and high unemployment, creating a severe economic downturn.\u003c/li\u003e\u003cli\u003eCentral banks raised interest rates dramatically to fight inflation, which further suppressed economic activity.\u003c/li\u003e\u003cli\u003eU.S. फेडरल रिझर्व्हने अखेरीस 1980 च्या सुरुवातीला खूप जास्त इंटरेस्ट रेट्ससह महागाईवर कब्जा केला, ज्यामुळे आर्थिक रिकव्हरीपूर्वी खूपच मंदी झाली.\u003c/li\u003e\u003c/ul\u003e\u003ch4\u003e\u003cstrong\u003e2. यूकेमध्ये 2008-2011 कालावधी.\u003c/strong\u003e\u003c/h4\u003e\u003cul\u003e\u003cli\u003e2008. जागतिक आर्थिक संकटामुळे प्रमुख आर्थिक मंदी निर्माण झाली, त्यानंतर यूकेमध्ये स्थिर आर्थिक वाढीचा कालावधी.\u003c/li\u003e\u003cli\u003eत्याचबरोबर, वाढत्या जागतिक वस्तूंच्या किंमती (विशेषत: अन्न आणि ऊर्जा) आणि ब्रिटिश पाउंडचे डेप्रीसिएशन यासारख्या घटकांमुळे महागाई वाढली.\u003c/li\u003e\u003cli\u003eकमी आर्थिक वाढ असूनही, UK मधील महागाईने बँक ऑफ इंग्लंडचे लक्ष्य ओलांडले, तर बेरोजगारी जास्त राहिली.\u003c/li\u003e\u003cli\u003eमहागाई नियंत्रणासह आर्थिक वाढीला चालना देण्यासाठी धोरणकर्त्यांना समतोल साधण्यात अडचण येत आहे. वाढीला पाठिंबा देण्यासाठी सेंट्रल बँकने कमी इंटरेस्ट रेट्स राखले, परंतु महागाई कायम राहिली, ज्यामुळे स्टॅगफ्लेशन सारख्या स्थिती निर्माण झाल्या.\u003c/li\u003e\u003c/ul\u003e\u003ch4\u003e\u003cstrong\u003e3. 1980s लॅटिन अमेरिकन कर्ज संकट\u003c/strong\u003e\u003c/h4\u003e\u003cul\u003e\u003cli\u003eब्राझील आणि अर्जेंटिना सारख्या अनेक लॅटिन अमेरिकन देशांनी 1970 च्या दशकात मोठ्या प्रमाणात कर्ज घेतले, त्यापैकी बहुतांश यू.एस. डॉलर्समध्ये नामांकित केले.\u003c/li\u003e\u003cli\u003e1980 च्या सुरुवातीला, जागतिक इंटरेस्ट रेट्सने विकसित अर्थव्यवस्था म्हणून वाढ केली, विशेषत: यूएस, महागाईशी लढण्यासाठी रेट्स वाढवले.\u003c/li\u003e\u003cli\u003eThis led to a rapid increase in the cost of servicing debt, while global demand for exports from these countries dropped, slowing economic growth.\u003c/li\u003e\u003cli\u003eInflation soared as governments printed money to manage the debt crisis, causing stagflation.\u003c/li\u003e\u003cli\u003eLatin American economies were plunged into economic crises with sky-high inflation, massive debt burdens, and severe recessions.\u003c/li\u003e\u003cli\u003eThe region experienced a \u0026#8220;lost decade\u0026#8221; of stagnant growth and rising poverty due to stagflation.\u003c/li\u003e\u003c/ul\u003e\u003ch4\u003e\u003cstrong\u003e4. Japan in the 1970s\u003c/strong\u003e\u003c/h4\u003e\u003cul\u003e\u003cli\u003eJapan, like many Western economies, was hit hard by the oil price shocks of the 1970s, which caused a dramatic rise in the cost of imported energy (Japan was highly dependent on oil imports).This supply-side shock pushed inflation upwards while economic growth stagnated.\u003c/li\u003e\u003cli\u003eJapan faced both high inflation and slower economic growth, similar to the U.S. and Europe during the same period. While Japan eventually recovered in the 1980s, it experienced a period of stagflation before transitioning to more robust growth.\u003c/li\u003e\u003c/ul\u003e\u003ch4\u003e\u003cstrong\u003e5. Zimbabwe in the 2000s\u003c/strong\u003e\u003c/h4\u003e\u003cul\u003e\u003cli\u003eZimbabwe experienced hyperinflation due to mismanagement of the economy, including excessive printing of money and poor land reforms that disrupted agricultural productivity.\u003c/li\u003e\u003cli\u003eAlongside skyrocketing inflation, the economy faced severe contraction, and unemployment soared to extreme levels.\u003c/li\u003e\u003cli\u003eStagflation in Zimbabwe was particularly severe, with inflation rates in the hundreds of thousands of percent.\u003c/li\u003e\u003cli\u003eThe country’s economy was crippled by both runaway inflation and negative growth, leading to widespread poverty and social unrest.\u003c/li\u003e\u003c/ul\u003e\u003ch2\u003e\u003cstrong\u003eStagflation in India\u003c/strong\u003e\u003c/h2\u003e\u003cp\u003eIndia has not experienced a classic case of stagflation similar to the 1970s oil crisis in the U.S. or other global examples. However, there have been periods where the economy exhibited stagflation-like conditions, notably in the 1970s and early 1980s, and briefly in 2019-2020. Below are two examples that reflect stagflationary pressures in the Indian economy:\u003c/p\u003e\u003col\u003e\u003cli\u003e\u003ch5\u003e\u003cstrong\u003e India in the 1970s (Oil Shock Period)\u003c/strong\u003e\u003c/h5\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eIndia was heavily impacted by the 1973 oil crisis when OPEC raised oil prices significantly. As India was a net oil importer, the price shock led to a sharp increase in inflation due to rising costs of energy and raw materials.\u003c/p\u003e\u003cul\u003e\u003cli\u003eSimultaneously, India was going through economic challenges, including low productivity, agricultural failures, and structural inefficiencies in the economy, leading to sluggish growth.\u003c/li\u003e\u003cli\u003eIn addition, the global economic slowdown and internal political instability, such as the Emergency period (1975-1977), contributed to low growth and rising unemployment.\u003c/li\u003e\u003cli\u003eInflation soared, reaching double digits (above 20% in 1974), while economic growth stagnated due to both global factors and domestic inefficiencies.\u003c/li\u003e\u003cli\u003eThe government imposed price controls and rationing, but these measures were not very effective in curbing inflation.\u003c/li\u003e\u003cli\u003eGrowth remained sluggish, while unemployment and underemployment remained high, leading to stagflationary conditions.\u003c/li\u003e\u003cli\u003eIndia faced balance of payments issues, and the crisis was compounded by slower industrial and agricultural growth.\u003c/li\u003e\u003c/ul\u003e\u003col start=\u00222\u0022\u003e\u003cli\u003e\u003ch5\u003e\u003cstrong\u003e India in 2019-2020 (Pre-COVID Period)\u003c/strong\u003e\u003c/h5\u003e\u003c/li\u003e\u003c/ol\u003e\u003cp\u003eDuring this period, the Indian economy was showing signs of economic slowdown due to various factors, including:\u003c/p\u003e\u003cul\u003e\u003cli\u003eWeak consumer demand.\u003c/li\u003e\u003cli\u003eSluggish investment growth.\u003c/li\u003e\u003cli\u003eStructural issues in sectors like real estate, banking (non-performing assets crisis), and agriculture.\u003c/li\u003e\u003c/ul\u003e\u003cp\u003eAt the same time, inflation surged due to rising food prices, especially onions and other key food commodities, which are a significant part of the consumer price index (CPI) in India. The Reserve Bank of India (RBI) faced a dilemma: inflation was above its target, but economic growth was slowing significantly. This created a stagflation-like scenario. Consumer price inflation (CPI) rose to around 7.35% in December 2019, while GDP growth fell to 4.7% by the last quarter of 2019, the slowest pace in years. Unemployment also reached 45-year highs during this period, contributing to concerns of stagflation. The Indian government and RBI took steps like cutting interest rates and offering fiscal stimulus to boost growth, but the onset of the COVID-19 pandemic in early 2020 worsened the economic situation, leading to a deeper recession.\u003c/p\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/div\u003e\u003c/section\u003e\u003c/div\u003e","protected":false},"excerpt":{"rendered":"\u003cp\u003eStagflation is an economic situation characterized by the coexistence of three critical conditions: high inflation, stagnant economic growth, and high unemployment. This combination is unusual because inflation and unemployment typically move in opposite directions according to the Phillips Curve, which suggests that inflation should fall when unemployment rises and vice versa. What is Stagflation? Stagflation … \u003ca title=\u0022What is Stagflation?\u0022 class=\u0022read-more\u0022 href=\u0022https://www.5paisa.com/marathi/finschool/what-is-stagflation/\u0022 aria-label=\u0022Read more about What is Stagflation?\u0022\u003eRead more\u003c/a\u003e\u003c/p\u003e","protected":false},"author":1,"featured_media":61367,"comment_status":"बंद","ping_status":"उघडा","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18,73],"tags":[],"class_list":["post-61356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blogs","category-know-everything-about-starting-trading"],"acf":[],"_links":{"self":[{"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/posts/61356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/posts"}],"about":[{"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/types/post"}],"author":[{"embeddable":true,"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/users/1"}],"replies":[{"embeddable":true,"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/comments?post=61356"}],"version-history":[{"count":26,"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/posts/61356/revisions"}],"predecessor-version":[{"id":65103,"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/posts/61356/revisions/65103"}],"wp:featuredmedia":[{"embeddable":true,"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/media/61367"}],"wp:attachment":[{"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/media?parent=61356"}],"wp:term":[{"taxonomy":"श्रेणी","embeddable":true,"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/categories?post=61356"},{"taxonomy":"पोस्ट_टॅग","embeddable":true,"href":"https://www.5paisa.com/finschool/wp-json/wp/v2/tags?post=61356"}],"curies":[{"name":"wp","href":"https://api.w.org/{rel}","templated":true}]}}