This refers to the report "India adopts flexible inflation targeting" (March 3). This move will infuse transparency in the thought process of policy-makers. At this stage of economic development, when analysts and economists dissect and find reasons or attribute motives for every utterance by the finance minister or Reserve Bank of India governor, such transparency will give some relief and make debates more focussed. Having said that, let us not talk too much about responsibility and accountability of either side. Like a railway timetable tells you about late running of trains, inflation targeting will tell you what was the aim of the policy-makers at a given time. Aberrations will be explained from time to time.
M G Warrier, Thiruvananthapuram
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