This attempt to push up the inflation rate within a fixed timeframe is completely different from the conventional philosophy of forward guidance, which expects to influence longer-term interest rates by committing to continuing monetary easing as long as necessary and thereby bringing forward future demand.
They provide the largest share of employment after agriculture and are nurseries for entrepreneurship and innovation. Acknowledging the importance of the sector to economic growth, both- Government of India as well as RBI have been taking measures to enhance flow of credit to the sector. On its part, RBI has launched several initiatives in this regard.