Skip to main content

Monetary Policy in India: A Global Perspective

Watch the Recording

Webinar Link

Meeting No: 2513 811 2603
Password: money

Certificate of Participants

To recieve certificates, please register and attend


In 2016, the monetary policy framework moved towards flexible inflation targeting and a six-member Monetary Policy Committee (MPC) was constituted for setting the policy rate. With this step towards modernization of the monetary policy process, India joined the set of countries that have adopted inflation targeting as their monetary policy framework. The Consumer Price Index (CPI combined) inflation target was set by the Government of India at 4% with a ± 2% tolerance band. In this webinar the panel shall discuss the Pros and cons of incorporation of inflation targeting in monetary policy framework.

About the Speakers

Arvind Virmani

Arvind Virmani is member of NIti Aayog. He was Chairman of the Foundation for Economic Growth and Welfare (EGROW) and President of the Forum For Strategic Initiatives (FSI, Delhi). He has been a Mentor (economic policy) to FICCI & a member of RBI Technical Advisory Committee on Monetary policy.

He was earlier Executive Director, IMF and Chief Economic Advisor, Ministry of Finance and Principal Advisor, Planning Commission. During his tenure he advised on a host of economic policy reforms, through 100s of policy papers, notes and committees. He has served as Member, Telecom Regulatory Authority of India (TRAI) and as Director & Chief executive of the Indian Council for Research on International Economic Relations (ICRIER).

He has published 35 journal articles and 20 book chapters and written over 50 other working papers in the areas of Macroeconomics, growth and finance, tax reform, International trade & Tariffs, International relations, and national security strategy.

Pami Dua

Dr. Pami Dua is Senior Professor of Economics and was formerly Director of the Delhi School of Economics. She has served the University of Delhi in various capacities including Dean of Academic Activities and Projects; Chairperson, Research Council; Dean Research of Humanities and Social Sciences; and Coordinator, Internal Quality Assurance Cell of the University of Delhi.

She was a member of the first Monetary Policy Committee of the Reserve Bank of India from 2016 to 2020. She also served as the President of the Indian Econometric Society. She served for two decades as Principal Coordinator from India (Delhi School of Economics) of the United Nations World Project LINK for forecasting the global economy. She has also undertaken pioneering work in business cycle analysis with respect to India in collaboration with the Economic Cycle Research Institute, New York.

She has published numerous research papers in reputed international journals as well as books and book chapters in her fields of study viz. time series econometrics, forecasting, macroeconometrics, monetary policy and business cycle analysis. She has over three and a half decades of experience in teaching of macroeconomics, econometrics and forecasting.

She has been conferred the highest honour of the University of Delhi — Nishtha Dhriti Satyam Samman. She has also been honoured with the Distinguished Alumni Award from Lady Shri Ram College.