Consequently, the rupee moves in response to daily supply and demand patterns against the backdrop of these strategic restrictions. In turn, these restrictions can be lowered in response to strategic considerations, such as the increasing demand for foreign funds for infrastructure investment, which has been done over the past year.
Mitra, formerly Director, National Institute of Law in favour of an appropriate provision in the Indian Constitution. Second, at the level of legislative framework, several suggestions have been made to ensure appropriate autonomy and many of them are under consideration. In particular, proposed Fiscal Responsibility and Budget Management Bill and other amendments to Reserve Bank of India Act would cover significant ground.