He has had a productive first year at the RBI -- one which saw, also, India's economic imbalances improve and the unexpectedly strong general election outcome.
There is little scope for significant monetary easing even in the next fiscal year.
The RBI's idiosyncratic focus on wholesale price inflation at the expense of retail inflation is a serious policy error.
RBI's suggestion of new products to lower gold imports treats the symptom rather than the underlying disease
It is nearly impossible to effectively control inflation when it is not properly measured.
RBI's unique focus on WPI inflation is misguided even as demand-driven factors have become relatively less important.
An appropriate policy response always warrants a correct diagnosis of the problem. That is why the recent trend in inflation and its causes, and the inflation outlook take on exceptional importance ahead of the RBI's policy review on January 25.
entral banks should move well ahead of inflation becoming a problem, while governments typically wake up when inflation becomes a problem
The emerging growth-inflation trade-off warrants a shift to policy rates for monetary management.
Unlike politicians, central banks do not get into chest-thumping mode, and their job is never over. It is best for RBI to adopt a handle-with-care exit strategy.
The poor monsoon is only a hiccup for the unfolding India growth story and will not dampen high growth rates, says Rajeev Malik.
The strongest reasons for creating an independent debt management office (DMO) are also the ones for not doing it now, says Rajeev Malik.
Indian policymakers have more to learn about the art of communicating with financial markets.
Much depends on the Indian government's response.
Policymakers should correct the self-created imbalances caused by the hesitant and lopsided integration with the rest of the world.
It is striking how quickly the over-hyped optimism over the evolving India economic story has given way to a reality check in general and pessimism over the economic outlook in particular. Capital inflows into India were attracted by the increasing domestic and global acknowledgement of the favourable structural economic shifts.
The "band-aid" approach to managing capital inflows and rupee appreciation leaves a lot to be desired.
The current approach toward capital inflows and the rupee remains an enigma.
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