54. In a nutshell, considerable research effort should be devoted to development of indicators for financial stability analysis, which in conjunction with sound judgment must be employed for comprehensive assessment of the risks to the stability of the economy and the financial system. Conclusion 55. Let me now conclude. I have raised the following five conceptual issues:  i.
Inflation measure for monetary policy in India: WPI or CPI? ii. Potential output, threshold inflation and Taylor rule for monetary policy reaction function  iii. Neutral interest rate and assessment of monetary policy stance  iv. Equilibrium exchange rate – Why no single statistical measure is acceptable as a consensus reference value? v.  Financial stability and stress indicators – way forward  56.