A focus on core rather than headline inflation goes against the Reserve Bank of India's inflation-targeting mandate. This is likely to cost the country dearly. Perhaps the MPC needs a reminder of the advice given by one former RBI governor to another.
So, the unstated question after RBI Governor Sanjay Malhotra read out the MPC Statement at the conclusion of the MPC’s meeting on Wednesday was whether it was a non-event.
A careful reading of the statement shows it was anything but, with the MPC str... [5560 chars]
Source: Livemint
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