After considerable debate between and within Government and RBI, it was agreed in march 2004, that the limit for Market Stabilisation Scheme (MSS) would be prescribed by the Government from time to time in the light of proposals from RBI.
If they fail to correct these deficiencies swiftly and thoroughly, stability oriented monetary policy in EMU will become increasingly difficult, all the more so as monetary policy has been profoundly challenged by the financial crisis.