Bhargav Dangar discusses price controls and inflation. Price controls are government mandated minimum or maximum prices for essential goods. Governments implement price controls when prices on items like food and oil rise rapidly. Inflation is healthy under 5% as prices rise with economic growth, but inflation over 10-15% can occur due to issues like hoarding and black marketing. Price controls can be direct through laws or indirect through monetary, fiscal, and trade policies. Indirect controls work through influencing the money supply, public purchasing power, and trade to stabilize prices.