It's time to formalise the normalisation process: Part 1

Inflation may not be as transitory as has been estimated since rising demand will add to the supply bottlenecks

In many ways, Reserve Bank of India (RBI) Governor Shaktikanta Das’s predicament at the three-day meeting of the Monetary Policy Committee (MPC), the Indian central bank’s rate-setting body, which ends on February 10, reminds me of Larry Fortensky, the US construction worker who was the seventh and last husband of Elizabeth Taylor. Fortensky was well aware of what was expected of him on their honeymoon in 1991 at Michael Jackson’s Neverland Ranch but his challenge was how to be different from Taylor’s previous husbands!

Das knows well what is expected from the RBI against the backdrop of last week’s Budget,