Monetary Policy in India A modern macroeconomic perspective Chetan Ghate and Kenneth M Kletzer (editors) Springer India, 2017 652 pages; Rs 15,000 Over the past five years, India has seen something of a revolution in terms of the formulation of monetary policy. Today, we have a central bank with a clear mandate, to control inflation — and the government has formally signed on to this mandate.
Monetary policy is set by a committee, half of the members of which are independent economists. This is also the period in which, partially but not wholly coincidentally, ...
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First Published: Thu, January 04 2018. 22:41 IST
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