27 JUN,2022 | MEDC
RBI's monetary policy is now dedicated to reining in the inflationary pressures in the Indian economy. By raising repo rates and withdrawing excess liquidity from the system after inflation remained persistently above 6% for four consecutive months, RBI has shown that fighting inflation remains its topmost priority. But the government (in the form of fiscal policy) is also now sharing the heavy lifting for inflation control in the economy. Duty cuts are being effected and subsidies targeted, to protect the socioeconomically vulnerable in a potentially inflationary environment. This synchronization of fiscal and monetary policies is a welcome stepboding well for India continuing to be one of the fastest growing economies amongst major countries in the forthcoming post-Covid period.
*Picture Credit: Google
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Interactive Meeting with Mr. Jaykumar Rawal Hon'ble Minister for Tourism & Employment Guarantee Scheme Govt. of Maharashtra