A Formal Inflation Target & a Return to Fiscal Rules are a must for India

An inflation targeting framework and a return to fiscal rules can help to reinstate discipline and accountability in the policy framework, and anchor inflation expectations. Inflation has been very high and persistent since 2009, averaging 9% on the WPI. This prolonged period of high inflation has not been witnessed since the early 1990s. Inflation expectations remain in double digits, while wage growth in rural areas has been growing at close to 20%......Read More