Among the uncertainties caused by the epidemic, Reserve Bank Governor Shakantanta Das believes that pursuing policy support is the most desirable and prudent option to focus on improving and stabilizing economic growth at the present time.
Das emphasized the need to closely monitor the price situation in order to meet inflation expectations, according to the Financial Policy Committee (MPC) meeting released on Friday. The need for this time is two-pronged: first, pursue monetary policy support for the economy, and second, keep an eye on any durable inflationary pressures and persistent price positions across key components, so that the mechanism remains seamless over a period of time. Retail inflation can only be brought to 4 per cent. After the MPC’s three-day meeting earlier this month, all of its members (Shashank Bhide, Aseema Goyal, Jayant R Verma, Mridul K Sagar, Michael Debabrata Character and Shaktikanta Das) unanimously agreed to not change the policy rate repo. Cent. But he gave his vote. With the exception of Verma, other members are committed to mitigating the impact of Kovid-19 on the economy and making economic growth sustainable and sustainable, ensuring that inflation remains within the target range for the foreseeable future. To adopt a liberal stance on monetary policy. According to meeting minutes, Verma took a different stand on this part of monetary policy. He believes that economic growth was not satisfactory before the onset of the epidemic. In this, there is a need for comprehensive coordination in monetary policy, even though the impact of Kovid-19 is to a large extent. At the same time, RBI Deputy Governor Patra said that in view of the uncertainty prevailing at the time of the epidemic, the Monetary Policy Authority has sought to show some certainty with its commitment to maintain a liberal stance in the future.
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He said efforts to curb aspirations would be under pressure with rising inflation worldwide. Patra said some countries ‘markets have accepted the authorities’ view that inflationary pressures are temporary and do not require a change in policy stance. At the same time, some other central banks have already tightened their policy stance, recognizing that inflationary pressures are temporary.
