At the May Board meeting earlier this week, the Board reiterated that in its central scenario, these conditions are unlikely to be met until 2024 at the earliest. This complements the 3-year government bond yield target and has helped underpin the low level of interest rates across the economy.
Even so, it has been an enormously rewarding experience for us as individuals and for the RBI as an institution. We learnt more this way than what we could have by reading hundreds of reports and attending scores of meetings and conferences. And what is more, it was a lot more fun than sitting in air-conditioned offices in skyscrapers.