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The measurement of inflation needs to improve   -  suman bhaumik×
There should be a switch in target from headline to core CPI. And, the basket and its weights should be updated frequently
Possible extension and adjustment of flexible inflation targeting (FIT) due this month should be done keeping in mind aspects of it that are critically important in the Indian context.
The conceptual roots of FIT lie in developments in macroeconomic theory that led to a switch in central banking practice. The perfect foresight and market clearing view associated with the Real Business Cycle School implied that only unanticipated monetary shocks could affect real variables. Therefore, central banks aimed to keep markets ill-informed and surprise them with policy measures. ....

Real Business Cycle School , New Keynesian , Policy Rate , Flexible Inflation Targeting , ரியல் வணிக மிதிவண்டி பள்ளி , பாலிஸீ ரேட் ,