Paper Title
Effectiveness of Monetary Policy in Managing Inflation: An Indian Context
Article Identifiers
Registration ID: IJNRD_303576
Published ID: IJNRD1712021
: https://doi.org/10.5281/zenodo.14833016
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Keywords
Monetary policy, inflation targeting, Reserve Bank of India, inflation management, economic growth, policy transmission, inflation forecasting, supply-side constraints, open market operations, economic reforms
Abstract
This paper explores the effectiveness of monetary policy in managing inflation within the Indian context, examining key mechanisms, historical trends, and policy responses. The study analyses the evolution of monetary policy since the liberalization of the Indian economy in 1991, with a focus on the role of the Reserve Bank of India (RBI) in controlling inflation. It reviews the tools of monetary policy, such as interest rate adjustments, open market operations, and the adoption of inflation targeting in 2016, highlighting their impact on inflation control. The paper also examines the relationship between inflation and economic growth, identifying challenges in managing both simultaneously. Key findings indicate that while monetary policy has successfully reduced inflation over the years, external factors like global commodity prices and domestic supply-side constraints, particularly in agriculture, continue to exert significant pressure on inflation dynamics. The study concludes that, for future effectiveness, improvements in policy transmission, enhanced inflation forecasting models, and better management of supply-side factors are essential. The integration of technological advancements in monetary policy tools is also expected to enhance policy responsiveness and strengthen India’s ability to manage inflation in a rapidly evolving global economy.
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How To Cite (APA)
Dr Manoj Kumar Sharma (December-2017). Effectiveness of Monetary Policy in Managing Inflation: An Indian Context. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 2(12), 110-117. https://doi.org/10.5281/zenodo.14833016
Issue
Volume 2 Issue 12, December-2017
Pages : 110-117
Other Publication Details
Paper Reg. ID: IJNRD_303576
Published Paper Id: IJNRD1712021
Research Area: Science and Technology
Author Type: Indian Author
Country: -, -, India
Published Paper PDF: https://ijnrd.org/papers/IJNRD1712021.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD1712021
Crossref DOI: https://doi.org/10.5281/zenodo.14833016
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