The purpose has generally been to highlight elements of continuity, change and contextual relevance in each policy. However, on this occasion, a slightly different approach is adopted. To start with, there will be an assessment of the projections made in the policy statements since 1997-98 with reference to outcomes, giving some sort of monetary marksmanship, akin though not similar to fiscal marksmanship.
This will be followed by a brief review of the progress in reforms in monetary policy and financial markets during the last five years. The features of the latest Monetary and Credit Policy would then be mentioned to lead to the tasks ahead.