The Reserve Bank anchored this change by tightening monetary policy in the January 2014 policy review and maintained this tight stance in subsequent policy reviews so as to set the economy firmly on a disinflationary path. Since then, inflationary pressures have fallen in a broad-based manner.
This has been aided in part by measures taken by the Government to control the fiscal deficit and to augment food supply, disincentivise agricultural exports and reform agricultural marketing policies. 4. I have been asked to speak on a subject of my choice.