Declare victory over inflation?

The inflation enemy may have been weakened, but may be far from dead

In a vibrant democracy, debates over any policy are always wholesome. Confabulations within the government — meaning thereby high-level discussions among various government departments and between the government and a regulatory body such as the Reserve Bank of India (RBI) — were, however, not only confidential, but sometimes even beyond the purview of the Right to Information Act. Things seem to have changed with the debate over inflation and monetary policy. There is a remarkable degree of openness in the exchange between North Block and Mint Street.

In the face of vigorous demands for policy relaxation, the Monetary Policy Committee (MPC),