.....In India, the Reserve Bank of India (RBI) has multiple and conflicting objectives to manage. It has to manage inflation, growth, rupee and government of India’s borrowing programme. If RBI tries to lower inflation by raising rates, growth falters. If RBI tries to revive growth by cutting rates, rupee can depreciate. If RBI supports the borrowing programme, inflation can move higher. If RBI raises rates to defend the rupee, growth can suffer. Every action of RBI in managing one objective has some bearing on another objective.......
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