In particular, the recent initiatives of RBI to develop money market and debt markets should contribute to improving the transmission mechanisms of monetary policy. All the reforms in the monetary and financial sectors may not have the desired results without credible fiscal adjustment.
The advent of real-time information systems has enabled managers to organize a workforce without the redundancy required in earlier decades to ensure against the type of human error that technology has now made far less prevalent. Real-time information, by eliminating much human intervention, has markedly reduced scrappage rates on production lines, lead times on purchases, and errors in many forms of recordkeeping.