Coming on the back of a historic Union Budget, Reserve Bank of India's (RBI) monetary policy is complementary to the fiscal policy. While policy rates have been kept unchanged, RBI has given forward guidance that it will continue to provide ample liquidity into the next financial year, as was the case earlier. This is essential to see through elevated borrowing of Rs 12 trillion by Centre and Rs 10 trillion by states in the next year.
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First Published: Fri, February 05 2021. 13:39 IST