Das pitched for inflation-growth balance at his final MPC meet

THE PRIORITY OF monetary policy should be on restoring the inflation-growth balance and aligning inflation to the apex bank's target of 4%, said Shaktikanta Das, former governor, Reserve Bank of India (RBI), according to the minutes of his last monetary policy committee (MPC) meeting, released on Friday.

- SACHIN KUMAR Mumbai, December 20

Lower inflation will enhance households' disposable income and increase their purchasing power and this approach would support consumption and investment demand, Das said.

"The policy priority at this critical juncture has to be on restoring the inflation growth balance," said Das while voting for a status quo on the short-term lending rate earlier this month. "The biggest support for higher growth would come from price stability," he said.