RBI Third Quarter 2009-10 review – just 10 pages

I had posted on how RBI Governor Mr Subbarao is ushering in more transparency at the central bank.

His recent monetary policy statement for Q3 2009-10 is just 10 pages long (or short). It shows 13 pages but first two pages have nothing in it and last page is blank. It is a big improvement from the 40-50 pages statement which came earlier.

However, the statement should be read with macroeconomic and monetary developments report released yesterday. It is around 90 pages long which could be cut short as well. The Macroeconomic and Monetary Developments report is released a day before the monetary policy report. But we hardly get regular economic analysis from RBI, so some might say it is ok to have a detailed analysis quarterly.  

Earlier Governor’s monetary policy statements repeated most of the analysis in macroeconomic and monetary developments report. Now the statement simply says:

This Policy Review statement should be read and understood together with the detailed review in Macroeconomic and Monetary Developments released yesterday by the Reserve Bank.

 Welcome change. Helps job of economists/analysts so much. It is also environment friendly.

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4 Responses to “RBI Third Quarter 2009-10 review – just 10 pages”

  1. rakesh Says:

    thanks for the posting.

    It is interesting to read Mr. Subharao’s analysis of emerging markets in contrast the Advanced countries.

  2. RBI Governor’s teleconference with researchers & analysts « Mostly Economics Says:

    […] I have been saying, Mr Subbarao is bringing changes in RBI especially in communication and transparency. This is the first time such a event has […]

  3. Two issues with India’s Fiscal policy: increasing deficits and decreasing transparency « Mostly Economics Says:

    […] like RBI is ushering transparency (also see this and this) in monetary policy making, Finance Ministry should bring transparency in […]

  4. RBI’s several policies to improve financial literacy and financial inclusion « Mostly Economics Says:

    […] , international conferences (one, two and three) transparency and communication initiatives (one, two) and now the several financial inclusion and literacy […]

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