Monetary Policy in the Nineties:Emerging Trends
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The Monetary Policy of a country plays a vital role in determining the pace of economic growth in the desired direction. India’s monetary system has been largely designed and shaped in the mould of a competitive economy. It lacks the vibrancy and radiance of an expanding and growing economy. During the last four decades little efforts were made to move the monetary policy from its traditional grooves so that it can serve the needs of an economy with mixed and planned fabric wadded to socialistic goals. Automatic monetisation of deficit finance and flow of credit to social sector led the country to an era of ‘monetary explosion’.
The advent of the nineties witnessed the surge of political, social and economic changes. The policy of economic liberalisation and structural reforms have opened up new vistas and thrown new challenges. The changing scenario calls for a more vibrant and realistic monetary policy. The Keynesian and Freidmen’s models have little relevance for India today. Monetary Policy will have to be geared up to meet the new emerging national and global challenges, and the objectives of ‘growth with stability’ has to be achieved.
| Common | |
| Author | B. Kumar |
| Binding | Hardcover |
| Edition | 1 |
| ISBN | 81-7132-059-7 |
| Language | English |
| Number Of Pages | viii+205 |
| Publication Year | 1992 |
| Publisher | Pointer Publishers, Jaipur |