India
RBI UNDERLINES COLLATERAL VALUE OF LAND
STRESS IS ON DIGITAL MAPPING AND CLEAN RECORDS
2015-09-17 17:30
-
Few could match the country’s central bank for institutional integrity, professional flair and calling a spade a spade in duly cautioning the government of the day when it senses something amiss in the macroeconomic management of the authorities. It is rather unfortunate that such a revered institution has of late been dragged into needless controversy over the constitution of the monetary policy committee (MPC) which will set the inflation target to draw the line beyond which inflation would not be allowed to breach under its hawkish watch. Even as inflation-targeting has failed comprehensively wherever it was in vogue, this in no way detracted the authorities from experimenting the one in a country of continental size and dimension like ours. This is because legions of people have no means of livelihood or whatever little they earn is not indexed to inflation so that a set target of a single-digit inflation with a plus/minus two per cent would help mollify the miseries of millions as they battle to make both ends meet in their daily somber scramble and struggle to eke out an existence.