RBI's MPC will be overhauled with 3 new external members expected to join by October & possibly changes to its targeting framework introduced next year.
RBI expects headline inflation to remain elevated in the second quarter of 2020-21. It also sees real GDP shrinking in the first half as well as the full year.
CPI-based inflation has remained over 6% for last 2 quarters. With NPAs also expected to rise significantly, RBI could focus on financial stability this time.
With gradual resumption of supply chains, inflation may come down. Data has also been limited by the lockdown, so the MPC should wait before changing rates.
Tax breaks may have a greater multiplier effect on the economy than govt spending, says RBI's monetary policy committee independent member Chetan Ghate.
RBI's Monetary Policy Committee was formed in 2016 for inflation targetting. Currently, interest rates are decided by a majority vote in the 6 member-committee.
The RBI has cut key policy rates by 25 basis points in the central bank's third consecutive rate cut, which comes amid slow growth for the fourth consecutive quarter.
FM adds that AI-assisted technologies should be adopted in all districts to bring development & highlights importance of collaborative ecosystems in tech innovation.
The Standard F4 plus version will come equipped with longer-range air-to-air missiles (two) and air-to-ground munitions than currently in service with India, ThePrint has learnt.
To be truly functional and durable, even eternal, a state doesn’t just need a leader, a party or an ideology. It needs functional and robust institutions.
COMMENTS