Subramanian: India's average inflation dropped from 7.5% to 5% post-2016 targeting regime
Krishnamurthy Subramanian · Former CEA: "INDIA WILL BECOME A $55 Trillion Economy By 2047" | KV Subramanian Proves On Neon Show · Oct 19, 2024 · at 19:45
Former Chief Economic Advisor Krishnamurthy Subramanian explains macroeconomic shifts supporting his long-term growth projections for India.
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“From 1991 onwards till, you know, 2016 when India implemented what is called the inflation targeting regime. That essentially means that the government then, you know, entrusted the Reserve Bank of India, the central bank of the country to target inflation at four percent. Earlier, before this, inflation was much higher in India... The average inflation was about seven and a half percent. Post 2016, after this inflation targeting regime has been put in place, inflation has reduced to five percent.”
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