Putting monetary policy in context - The Hindu

Putting monetary policy in context - The Hindu

My VIEW:

This refers to C R L
Narasimhan’s article “Putting monetary policy in context”(Financial Scene,
February 2). In the February 3 review and when Dr Raghuram Rajan will be
presenting his monetary policy statement for the year 2015-16 sometime after
Budget 2015-16, one expects that the new equation between Mint Road and North
Block which allows space for alignment between fiscal and monetary policies
will find expression.
Perhaps, RBI’s monetary
policy statement and the Central Budget may have to make a one time
announcement that these two documents go much beyond ‘base rates’ and ‘tax
concessions’.
This observation is also
in the context of expectations about growth and reduction in base rates
building up in the context of ‘revised growth projections’ with the change in
base year for computation of national incomes from 2004-5 to 2011-12. Change in
base year does not change realities at the ground level, though it is
comforting to find that slowly we are moving to a scenario when more authentic
and current figures will guide our own planning and assessment of our country’s
position vis a vis other developing nations by other countries and rating
agencies.
In such a scenario, the
concluding observation in the article, “RBI’s
credit policy review might be the right forum to begin that exercise. After
all, the RBI has always been cautious — highlighting the risks to a higher
growth as well as lower inflation. It is these areas that should command
maximum attention in tomorrow’s policy statement” deserves emphasis.   
M G Warrier, Thiruvananthapuram 

Comments

Post a Comment

Popular posts from this blog

NAVAGRAHA STOTRAM

NAVAGRAHA STOTRAM* According to astrology, the positions of the nine planets in the twelve constellations of the zodiac and their movements are considered to be quite significant. The nine planets ‘Navagraha’ affect every aspect of human life. They play an important role in the activities, physical and mental health and life of any individual. The unfavorable positioning of any of these planets can be the cause of problems, bad health, and stagnation for many people. However, there is a solution to avoid the ill effects of the position and movement of the ‘Navagraha’ in our lives. Navagraha mantras (or stotram) are simple mantras which work as powerful healing tools to reduce the negative effects of any of the nine planets. These mantras are Hindu holy hymn addressing the nine planets. Benefits Of Navagraha Stotram And The Way to Practice The Navagraha Stotram is written b y Rishi Vyasa and is considered to be the peace mantra for the nine planets. They are powerful m
Read more

THE SUNSET OF THE CENTURY

*SUNSET OF THE CENTURY: Rabindranath Tagore THE LAST SUN OF THE CENTURY SETS AMIDST THE BLOOD-RED COLOURS OF THE WEST AND THE WHIRLWIND OF HATRED. THE NAKED PASSION OF SELF-LOVE OF NATIONS IN ITS DRUNKEN DELIRIUM OF GREED IS DANCING TO THE CLASH OF STEEL AND THE HOWLING VERSES OF VENGEANCE. THE HUNGRY SELF OF THE NATION SHALL BURST IN A VIOLENCE OF FURY FROM ITS OWNSHAMELESS FEEDING FOR IT HAS MADE THE WORLDITS FOOD, AND LICKING IT, CRUNCHING IT AND SWALLOWING IT IN BIG MORSELS, IT SWELLS AND SWELLS TILL IN THE MIDST OF ITS UNHOLY FEAST DESCENDS THE SUDDEN HEAVEN PIERCING ITS HEART OF GROSSNESS…   *Note: “The Sunset of the Century”, translated by the poet, from Naivedya; The English Writings of   Rabindranathtagore, Volume II,Delhi 1996, page 466. Quoted in his article ‘Critiquing nationalism’ by K Satchidanandan (Frontline, November 14, 2014). The article takes you to a much broader spectrum. HAPPY READING(READ MORE STAN
Read more

The King of Ragas: Sankarabharanam

                       The King of Ragas                      --------------------------     Long ago  serpents were put to lot of hardships.They  were afraid of other animals. They had to seek refuge in the hermitage of sage Saraba.The sage was a true devotee of Lord Shiva.He used to pray Shiva with melodious songs. As he sang a particular raga the snakes were much inspired and they began to dance,. Slowly the serpents became friendly with the sage. They brought water in their mouths for the pooja.They secreted  a special fluid in which the flowers got stuck to their bodies.The sage was much astonished by the service of the snakes.As the sarpas became very close to the sage ,they requested him to help having Darsan of Lord Siva. As requested by the sage Shiva appeared in the form of  a  Kapalika and stayed in the ashram.The music and dance of the snakes continued. The snakes rendered service to the kapalika as they considered him  a Shiva bhakta.Shiva was much pleased with t
Read more