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Inflation targeting in India

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  • Charan Singh

Abstract

The adoption of inflation targeting in India has been a much debated topic which also becomes a challenge for an emerging economy. Though inflation targeting has already been adopted in some emerging and advanced countries, successful implementation would be a concern. The paper argues that an emerging country like India needs to consider the composition of consumer price index; state of macro econometric models; and young demographics, unemployment rate and lack of social security before adopting inflation targeting. To modernize the monetary policy framework, India could consider introducing regular review of the regional economy; instituting a monetary policy committee; and separating debt from monetary management, the paper argues.

Suggested Citation

  • Charan Singh, 2015. "Inflation targeting in India," Macroeconomics and Finance in Emerging Market Economies, Taylor & Francis Journals, vol. 8(1-2), pages 17-24, July.
    • Handle: RePEc:taf:macfem:v:8:y:2015:i:1-2:p:17-24
    DOI: 10.1080/17520843.2014.992450
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    References listed on IDEAS

    as
    1. James B. Bullard & Carlos Garriga & Christopher J. Waller, 2012. "Demographics, redistribution, and optimal inflation," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 419-440.
    2. Masaaki Shirakawa, 2012. "Demographic Changes and Macroeconomic Performance: Japanese Experiences," Monetary and Economic Studies, Institute for Monetary and Economic Studies, Bank of Japan, vol. 30, pages 19-38, November.
    3. repec:fip:fedlps:y:2012:i:may30 is not listed on IDEAS
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