The researchers of the RBI undertook a comprehensive review of the monetary policy framework, examining all relevant issues, and recommended retention of the same target for the next five years. We accepted this recommendation and sent proposals to the government accordingly.
Firms have been relocating their production sites overseas at a faster pace and global M&A activity has been actively taking place. Accordingly, the division of labor between the firms has also progressed. For example, in the area of software development and data processing, outsourcing has been taking place across the border. More recently, an open source approach - i.e.