Fiscal deficit, RBI autonomy and monetary management
By: Ramachandran, M.
Material type:
ArticlePublisher: 2000Description: p.3266-272.Subject(s): Reserve Bank of India | Monetary policy - India | Banks - India | Public finance - India | Public finance
In:
Economic and Political WeeklySummary: Changing money supply-process, mainly in response to increasing financial market openness and growing market orientation of the financial structure, has made the monetary targeting exercise more complicated. This is made worse by the continuing automatic monetisation of fiscal deficit. Thus, fiscal correction is an inevitable precondition of RBI autonomy and the efficacy of its policy. - Reproduced
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Articles
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Indian Institute of Public Administration | Volume no: 35, Issue no: 35-36 | Available | AR46568 |
Changing money supply-process, mainly in response to increasing financial market openness and growing market orientation of the financial structure, has made the monetary targeting exercise more complicated. This is made worse by the continuing automatic monetisation of fiscal deficit. Thus, fiscal correction is an inevitable precondition of RBI autonomy and the efficacy of its policy. - Reproduced
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