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Rajan's Monetary Policy Foray
Pursuit of Low Inflation
The Reserve Bank of India is not justified in holding on, almost continuously, to some discredited ideological position of monetarism and thereby hurting economic growth.
The author thanks his colleagues, Bipin K Deokar, R Krishnaswamy, Shruti J Pandey, Anita B Shetty and Nishigandha R Lokhande, for their assistance in preparing this article.
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