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Do not tinker with ‘Flexible Inflation Targeting’
The new regime has enhanced fiscal and monetary interface   -  Bloomberg×
Inflation targeting has been quite successful in the past four years. What the RBI needs is more functional autonomy
To shoot the bird’s eye, you need to see only the eye and nothing else, so goes the well-known Indian proverb. This was the simple underpinning of the Flexible Inflation Targeting (FIT), approach that has served the RBI’s monetary policy for the last four years. Inflation was the clean, clear target. The FIT worked with a band that specified a target for inflation at an average of 4 per cent but open to swinging up or down by two percentage points. ....

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