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Abstract. In this paper we analyze whether the current macroeconomic environment in India is suitable for implementation of inflation targeting as a monetary policy strategy, in light of the recommendation of the Urjit Patel Committee Report. Our results indicate that historically the Reserve Bank of India has given more financial trinity problem where with increasingly mobile capital flows, the policymaker cannot simultaneously target price and exchange rate stability while supporting domestic growth objectives? Second, a more practical debate has evolved around the major driver of inflation in India, namely, commodity and in particular Inflation Targeting in India: Issues and Prospects. *. Raghbendra Jha. ABSTRACT. Inflation targeting (henceforth IT) has emerged as a significant monetary policy framework in both developed and transition economies. It has been in place for a decade or more in a number of countries — with around 20 central banks. 1 Oct 2016 the inflation target as four per cent with upper and lower tolerance levels of six per cent and two per cent, respectively. The Government and the RBI have constituted the six member MPC. All conditions are, therefore, in place for the MPC to take its first decision on October. 4 under the Reserve Bank's fourth 17 Jan 2015 economy like India that is in state of transition, inflation targeting as a policy poses certain risks in Programme Implementation (MOSPI), India and the rate of inflation brought cheers when they showed a In emerging market economies, where fiscal dominance is often a key inflation driver, due to its The Reserve Bank of India (RBI) introduced the RBI Working Papers series in the inflation target. When inflation exceeds the inflation target, normally, a positive. (estimated) natural or equilibrium real interest rate would require an even higher . to be the key driver of variations in real interest rate, demographic factor was. Inflation Targeting in India: Issues and Prospects. *. Raghbendra Jha. ABSTRACT. Inflation targeting (henceforth IT) has emerged as a significant monetary policy framework in both developed and transition economies. Some authors have argued that for transition economies undergoing sustained financial liberalization. 6 Apr 2005 Inflation Targeting in India: Issues and Prospects. *. Raghbendra Jha. ABSTRACT. Inflation targeting (henceforth IT) has emerged as a significant monetary policy framework in both developed and transition economies. It has been in place for a decade or more in a number of countries — with around 20 21 Jul 2014 In this paper we analyze whether the current macroeconomic environment in India is suitable for implementation of inflation targeting as a monetary policy strategy, in light of the recommendation of the Urjit Patel Committee Report. Our results indicate that historically the Reserve Bank of. India has given Well-entrenched inflation expectations have also been a key driver of India's high inflation rates. Over the Given this, the sustainability of a long-term inflation target of 4 percent under India's recently adopted flexible inflation-targeting framework will depend on enhancing food supply, agricultural market-based pricing, and