The current inflation-targeting regime should be suitably updated, but it should remain the framework for India's monetary policy for the foreseeable future
The available data does not obviate the significance of the recent performance and resilience of the Indian economy, including in the context of the concomitant global trends
The upshot of the above figures is that despite being faced with a highly challenging external environment this year, overall, the India economy will emerge from it relatively unscathed