March 14, 2021 4:32:21 am
Chief Economic Advisor Krishnamurthy V Subramanian said Saturday the country requires growth at this juncture, even with economic trade-offs, as it aspires to increase its dominance and self-reliance in the global economy.
His comment comes ahead of the revision of policy framework and inflation targets by the Monetary Policy Committee headed by the Reserve Bank of India Governor Shaktikanta Das by March 31. It will be the first review for RBI since it was tasked with a mandated inflation target of 4 per cent with a 2 per cent deviation either way in June 2016, when it adopted a flexible inflation targeting model.
“At this juncture we must focus on growth and when it comes to pressures for trade-offs, we must be leaning on growth,” Subramanian said at a virtual annual regional meeting of the CII, Eastern Region.
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