Best of BS Opinion: Expanding RBI's toolkit, uneasy climate alliance, more

Here is the best of Business Standard's opinion pieces for today

Reserve Bank of India (RBI) economists recently came up with a research paper that showed that machine learning techniques outperformed econometric models for inflation forecasting for both pre-pandemic and post-pandemic periods. A few months ago, the RBI selected two global consultancy firms to upscale its  advanced analytics and develop AI-ML systems for its supervisory functions. The top edit makes the case for expanding the use of AI-ML to improve inflation-forecasting outcomes. Read it here

In other views:

Mihir Sharma says the global energy transition will depend upon how well policymakers can cooperate with and influence legacy sectors from oil to steel. Read it here

The second edit argues that with Bitcoin gaining greater acceptance, India needs to frame clear cryptocurrency rules. Read it here

Debashis Basu points out that India has a new market structure where domestic investors have become dominant but will they act any differently from foreign investors of the past? Read it here

 

QUOTE OF THE DAY

 

‘The gravity of the incident in Parliament should not be underestimated ….Squabbling or protesting over it should be avoided’

 

Prime Minister Narendra Modi