Monday, February 4, 2013

RBI’s Policy & Macro Disconnect

......The Reserve Bank of India’s (RBI) report on Macroeconomic and Monetary Developments is like the Survey. It is presented a day before the central bank’s Review of Monetary Policy and is a bare-bones assessment of the state of the economy. The Policy Review that follows spells out the central bank’s stance and is a more nuanced document. But unlike the Survey and the Union Budget, the central bank’s report and the policy are usually in sync. Not any more, it would appear!.........


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