We are very pleased to partner with the Wharton School and the Journal of Financial Services Research in this joint conference on “Enhancing Prudential Standards in Financial Regulations”. I want to acknowledge and thank the organizers for assembling such a distinguished group of academics and practitioners to discuss the ongoing efforts to improve our financial system.
I am talking about inter-regional comparisons within our own country. We say one reason for inflation going up is people are drinking more milk. How can milk prices come down if do not produce more milk? Why our success in Anand experiment cannot be replicated in other parts of the country? Only when productivity goes up and cost comes down, can inflation be curbed.