Impact of Monetary Policy on Indian Economy in the Post-Reform Period

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Impact of Monetary Policy on Indian Economy in the Post-Reform Period

Show simple item record Smitha, T H Dr.Sankaranarayanan, K C 2011-07-19T04:57:50Z 2011-07-19T04:57:50Z 2010
dc.description Department of Applied Economics,Cochin University of Science and Technology en_US
dc.description.abstract The present study was an attempt to analyze systematically the techniques of monetary control measures with its relevance and changing importance and to find out their effectiveness in the Indian context especially to achieve the thriving objectives of price stability and economic growth.There is definite and remarkable economic impact of monetary policy on Indian economy in the post-reform period. The importance of monetary policy has been increasing year after year. Its role is very relevant in attaining monetary objectives, especially in managing price stability and achieving economic growth. Along that, the use and importance of monetary weapons like Bank rate, CRR, SLR, Repo rate and Reverse Rate have increased over the years. Repo and Reverse Repo rates are the most frequently used monetary techniques in recent years. The rates are varied mainly for curtailing inflation and absorb the excess liquidity and hence to maintain price stability in the economy. Thus, this short-time objective of price stability is more successful on Indian economy rather than other long-term objectives of development.Monetary policy rules can be active or passive. The passive rule is to keep the money supply constant, which is reminiscent of Milton Friedman’s money growth rule. The second, called a price stabilization rule, is to change the money supply in response to changes in aggregate supply or demand to keep the price level constant. The idea of an active rule is to keep the price level and hence inflation in check. In India, this rule dominates our monetary policy. A stable growth is healthy growth. en_US
dc.language.iso en en_US
dc.publisher Cochin University of Science & Technology en_US
dc.subject Monetary Theory and Policy en_US
dc.subject Economic Activity en_US
dc.subject Money Market Instruments en_US
dc.subject Interest Rates en_US
dc.subject Money en_US
dc.subject Prices en_US
dc.subject Indian Economy en_US
dc.subject Post-Reform Period en_US
dc.title Impact of Monetary Policy on Indian Economy in the Post-Reform Period en_US
dc.type Thesis en_US
dc.contributor.faculty Social Sciences en_US

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