Ananthanarayanan Seshan, Economic Consultant, holds degrees of MA in Economics and MSc in Agricultural Economics (US). He joined the economic research department of the Reserve Bank of India in 1956 and retired as its Officer-in-Charge in 1993. Subsequently, he worked as IMF Adviser to National Bank of Kyrgyzstan and Bank of Sierra Leone. His articles on economics, music, dance, politics, travel and sports number more than 250. He was a member of 18 official committees, including those set up by the IMF and UNDP. He is a former Editor of RBI Bulletin and RBI Occasional Papers and Founder-Editor of BSL Bulletin.

Let’s wait and watch this summer

Besides expecting banks to pass on earlier rate cuts, inflation concerns contributed to RBI keeping rates unchanged »

Inflation targeting of the wrong kind

From achieving price stability, the RBI has quietly shifted its focus to stabilising the inflation rate »

No harm in hitting the pause button

The reduction in SLR may turn out to be premature given the difficult fiscal situation »

The RBI has been too cautious

It is apprehensive about the global environment. However, its medium-term approach to inflation is to be welcomed »

The time has come to cut interest rates

With inflation having categorically eased and money supply growth down, industry can do with a boost »

A new normal for inflation?

Accepting high prices is not just a problem per se; it also complicates exchange rate management »

Status quo would have been better

The monetary authority should consider instruments other than interest rates to control money supply, disinflation, »

Aiming at inflation

In policy making, targeting inflation can be the anchor. There is still some reluctance on the RBI’s part in shifting to CPI vis-à-vis WPI. »

For forex, turn to NRIs

As in 1991, a foreign exchange immunities scheme for NRIs that does not dig into antecedents will help our cause. »

The RBI tweaks it right

The central bank has done well to take a serious view of inflation. However, it should be just as serious about mopping up forex to prepare for an eventual QE withdrawal. »
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