India’s central bank posted a discussion paper on 21 August 2025, calling for responses to four questions that need to be examined before the monetary policy framework is reviewed once again in March 2026. 

Ten years on, how can the monetary policy framework be strengthened?

In his Mint column, Niranjan Rajadhyaksha, Executive Director at Artha Global, explores data inputs which are likely to enhance monetary policy decision-making. These include a monthly series on wage trends across the economy; a producer price index (PPI) with a wider ambit than the current WPI, which can capture price changes in services and intermediate goods; and better identification of turning points in inflation trajectories.

Read the commentary here.

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