Contents
I
Introduction
II
Revisiting the Choice of Nominal Anchor for India’s Monetary Policy
III
Organisational Structure, Operating Framework and Instruments of Monetary Policy
IV
Addressing Impediments to Transmission of Monetary Policy
V
Conduct of Monetary Policy in a Globalised Environment
VI
Recommendations
Annex
A.
Memorandum
B.
Consultation Meeting of the Committee with Economists/Analysts
1.
Investigating the Relationship Between CPI-Combined and WPI
2.
Correlation Between Measures of Inflation and Inflation Expectations
3.
Estimation of Threshold Inflation
4.
Estimate of Output Gap