Ajay Chhibber: Stop talking about monetary policy | Business Standard Column

Ajay Chhibber: Stop talking about monetary policy | Business Standard Column

Online comments:
 Though all may not subscribe to
all the arguments put forth by the author to prove that RBI’s Monetary Policy
is weak as of now, the focus on need for much more Fiscal Policy support to
strengthen it cannot be disputed.
One wishes, authors of Fiscal policy read the
concluding two paragraphs of this article which tell us that “In India we see
our own excessive focus on the role of monetary policy when its impact on
medium-term growth and inflation is marginal” and “India needs now to focus on
genuine structural reforms: get the goods and services Act moving; build
consensus on labour market reforms; ease land acquisition; supply more
infrastructure; and above all reduce red tape” with crisp and clear reasons for
making such observations.
These suggestions are timely, as the In-house
work in the Finance Ministry for Budget 2015-16 gathers momentum from the
current quarter.


M G Warrier, Mumbai

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