Economics, Econometrics and Finance
6 years ago

Revolutionary Changes in India's Monetary Policy to Tackle Economic Instability

Parikalpana KIIT Journal of Management
Review of Monetary Policy of India Since Independence
Ruchi Priya Khilar

Paper Summary

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The article reviews India's monetary policy since independence, focusing on how the Reserve Bank of India manages money supply, inflation, and economic growth. In the early 1990s, Cash Reserve Ratio and Statutory Liquid Ratio were key measures. The increase in inflation is often linked to government borrowing. The recent establishment of the Monetary Policy Committee in 2016 is seen as a significant step. The paper examines past changes in monetary policy to address economic instability and tests its effectiveness in controlling inflation using secondary data from various sources.