Fixing monetary policy

Abstract

The recent speech by RBI Governor Raghuram Rajan at Bancon 2013 is an important literary piece of art, which weaves economic thinking with sociology and presents in a lucid style the state of the Indian economy. The author of the landmark report on India, A Hundred Small Steps, Rajan delineates the challengessluggish growth in manufacturing and industry, poor infrastructure, lack of adequate education and training for youth, and weak regulatory mechanism and financial system. Finally, the five development pillars for RBI are discussedstrengthening monetary policy framework and banking structure, developing financial markets, higher financial inclusion and improving stress management in the economy. The issues raised are pertinent and deserve attention of academicians, policymakers and government. Read more at: https://www.financialexpress.com/archive/fixing-monetary-policy/1205481/