3 min read.Updated: 09 Oct 2020, 10:32 PM ISTSoumya Kanti Ghosh
The MPC’s decision to continue with the accommodative stance, if necessary, into the next financial year will support the momentum building up in high frequency indicators
Glory comes not only for inventors but also for innovators. The famous American scientist Thomas Alva Edison was a rare breed who was both and, therefore, a legend. In a similar vein, the Reserve Bank of India (RBI) governor has innovated admirably through a bouquet of regulatory and developmental policies that is in complete sync with the coordinated task of both the government and the central bank in reinvigorating the economy. Despite the existing IT framework, the governor did not get fixated with a one-point agenda and dared to look through the inflation print. It was a matter of bold conviction to emphasise that the cost of borrowings was the lowest in 16 years, juxtaposed with the tail event of the pandemic, and the largest government borrowing in the history of Independent India!