Market-players, therefore, now have more freedom to undertake transactions as compared to the earlier days. These flexibilities, however, should be utilized in a responsible manner that is transparent, fair and beneficial to the customers and the economy as a whole and not mis-utilized for short term gains of a few market-players with adverse consequential effects on our financial sector.
That said, we have had a couple of better-than-expected outcomes for services inflation recently, and these allowed us to revise down our core forecast at the January 2023 MPC, even as we revised up headline inflation. Perhaps we can hope our core forecasts will be too high.