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The Budget of aspiration, economic development and care for all is behind us. Let’s focus on the next big event — the last bimonthly meeting of the central bank’s Monetary Policy Committee (MPC) in the current financial year. The Budget is its backdrop. The Reserve Bank of India (RBI) has got a new deputy governor, Michael Patra, overseeing the monetary policy department, including its forecasting and modelling unit. There is also a new member — Executive Director Janak Raj — at the central bank’s rate-setting body, the MPC.
On expected lines, the Budget has revised the fiscal deficit target for
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