Summaries by Mythili Bhusnurmath

The author strongly criticizes the RBI's MPC for its unwarranted dovish stance amidst India's challenging growth-inflation dynamics. Despite rising inflation and negative real interest rates, the committee's refusal to tighten monetary policy is deemed a serious mistake. The article specifically lambasts the MPC's inexplicable shift to focusing on "core inflation" rather than mandated "headline inflation." This deviates from its core mandate and global norms, especially in India where food and fuel dominate consumption. The author warns of severe economic costs and urges the MPC to consider the real-world impact of its decisions on the populace.