Please see the article at the website:
http://www.igidr.ac.in/conf/money/mfc-13/Inflation%20and%20Economic%20Growth%20in%20India_Prasanna%20and%20Gopakumar_IGDIR.pdf
Why not analyse a more general issue, which is theoretical relationship between inflation and growth?
Usually we think that this relationship is negative, i.e. inflation is harmful for growth (e.g. Barro, 1995; Christopulos, Tsionas, 2005). However, another stand of theoretical studies suggest that this relationship could beChang
i D. Black (2002 nonlinear - for low inflation the relationship is positive and above 'optimal inflation' it becomes negative (e.g. inverted U-shaped).
This 'optimal inflation' issue was first proposed by Friedman in 1969, and confirmed empircally by Sarel (1995), Chang and Black (2002), and partially by Gillman, Harris, Mátyás (2004).
http://www.igidr.ac.in/conf/money/mfc-13/Inflation%20and%20Economic%20Growth%20in%20India_Prasanna%20and%20Gopakumar_IGDIR.pdf
https://financetapmi.wordpress.com/2016/10/22/economic-growth-vs-inflation-for-india/
http://cmdr.ac.in/editor_v51/assets/mono-24.pdf
http://www.ijhssi.org/papers/v3(9)/Version-1/J0391063067.pdf
https://www.imf.org/external/pubs/ft/wp/2014/wp14222.pdf
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