Tag Search: “monetary policy”
Of twists and turns: Monetary policy and ‘term premium’
As India’s economic growth slowed down in recent years, the reliance on monetary policy to stimulate growth increased significantly – especially during the pandemic. Analysing data from 2018-2020, Raj...
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Rajeswari Sengupta
Harsh Vardhan
03 March, 2021
- Perspectives
Inflation targeting in India: An interim assessment
Inflation targeting in India is a work-in-progress, with a five-year review due by March 2021. This article presents an interim assessment suggesting that significant progress has already been achieve...
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Rishabh Choudhary
Barry Eichengreen
Poonam Gupta
17 February, 2021
- Articles
Evaluating inflation targeting in India
In March 2021, India will complete five years since the adoption of the inflation targeting framework by the government and RBI. Analysing inflation data since 1996 using alternative models, this arti...
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Pulapre Balakrishnan
M. Parameswaran
20 January, 2021
- Articles
Inflation targeting and capital flows
Current law in India mandates a review of the target inflation rate by 31 March 2021 for a five-year period. Several critics have called for abandoning the flexible inflation targeting regime altogeth...
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Gurbachan Singh
06 January, 2021
- Perspectives
Covid-19 crisis: Response should not undermine institutions
The unprecedented economic crisis triggered by the Covid-19 pandemic has resulted in calls for drastic actions on part of the government and RBI. In this post, Sengupta and Vardhan content that these ...
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Rajeswari Sengupta
Harsh Vardhan
15 December, 2020
- Perspectives
Covid-19 crisis: How policy can revive lending appetite among banks
Amid the economic crisis triggered by the Covid-19 pandemic, the expected surge in non-performing assets and its potential impact on the fragile capital base of banks, is alarming. In this post, Srini...
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K. Srinivasa Rao
09 November, 2020
- Perspectives
A ten-point programme for economic recovery
The Indian economy has been experiencing a slowdown in growth of GDP in general and investment in particular, with the Covid-19 crisis being the last (big) straw. In this post, Gurbachan Singh present...
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Gurbachan Singh
20 October, 2020
- Perspectives
Covid-19: Recession in India, and policy lessons from other countries
Given the prevailing economic situation in India and following the past experience of several developed countries, there is a clamour for accepting much larger fiscal deficits, and adopting unconventi...
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Gurbachan Singh
27 July, 2020
- Perspectives
Does easing controls on foreign borrowing boost firm performance?
The literature shows that rigid capital-control policies adversely influence international trade, but overlooks the relationships among access to external financing, firm-level productivity, and expor...
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Udichibarna Bose
Sushanta Mallick
Serafeim Tsoukas
17 July, 2020
- Articles
The supply-side effects of India’s demonetisation
What were the effects of the 2016 Indian demonetisation that removed 86% of currency in circulation overnight, on the production side of the economy? By combining data from financial statements and su...
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Giri Subramaniam
03 July, 2020
- Articles
Covid-19, and the way to avoid a blunt interest rate policy
Given the looming recession due to Covid-19, the Reserve Bank of India has reduced interest rates to encourage economic activity in the country. In this post, Gurbachan Singh contends that the prevail...
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Gurbachan Singh
16 June, 2020
- Perspectives
The pandemic and the package
The government has announced a package of fiscal and monetary policy actions, and broader economic reforms to set the economy back on track after the Covid-19 lockdown. In this post, Sengupta and Vard...
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Rajeswari Sengupta
Harsh Vardhan
04 June, 2020
- Articles