The two earliest research articles published by me were in the quarterly journal "Applied Economics Papers"; one of them as a co-author, with this publication having a globally distinguished editorial board. During this period in the University, I came into contact with eminent persons like Dr. I.G. Patel, later Governor, Reserve Bank of India and Mr. S. S. Khera, Cabinet Secretary.
The unambiguous mandate to deliver price stability is the most prominent element of a set of interrelated principles of sound monetary policy. Further important and widely accepted principles for the conduct of sound monetary policy are: 1. Credible commitment to the mandate of price stability  This principle is the basis for securely anchoring longer-term inflation expectations consistent with price stability.