If we wanted to write the algorithm to replace central bankers, we are trying to maximise several objective functions, subject to taking on no undue operational, legal, financial, and reputation risk. We thus need to have clarity on our objective functions (purposes); secondary criteria outlined in our Remits; and what is reasonable and undue risk.
Other external indicators, viz., import cover and short-term debt to reserves ratio are also better, relative to the taper talk period of mid-2013 when the Indian rupee had come under severe pressure). Challenges and Outlook 18. India is widely believed to remain world’s fastest-growing major economy in the medium to long term.