The year-on-year rate of change in the CPI has become slightly positive recently, and therefore the policy commitment has to a significant extent lost its influence on the formation of longer-term interest rates. Thus, the stimulative effects of the quantitative easing policy on economic activity and prices are coinciding with the effects of short-term interest rates being at practically zero percent.
It is heartening to note that the Government is committed to encourage entrepreneurship in the country through a revision of the national skill development policy of 2009 so that schemes of different ministries can be routed through the newly formed skills ministry. This would be vital considering the current Government’s thrust on “Make In India.” Conclusion 23.