The record of RBI in maintaining price stability, in terms of what is currently known as “core inflation”, is thus noteworthy. On growth rate also, the record is one of a self-accelerating growth, which was, to some extent, enabled by RBI.
The average annual GDP growth in the decade of 1950s was 3.6 per cent, in 1960s it was 4.0 per cent, in '80s it was 5.6 per cent and in '90s, excluding crisis year 1991-92, it was 6.3 per cent.