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What is the difference between MPC’s initiative and Jayanth Varma’s opinion for growth?
Jayanth Verma wants the economy to be more cautious of the danger of new variant however MPC trusts India’s capability for recovery
While Jayanth Varma is more heedful for inflation, Monetary Policy Committee is contradicting his opinion and focusing on growth
According to MPC, India has to make, adequate resources supply as a priority while external members of the committee believe in storing resources
Although both sides are focusing on growth, their ways to implement policies are quite different
None of these
Correct Option is While Jayanth Varma is more heedful for inflation, Monetary Policy Committee is contradicting his opinion and focusing on growth
Solution:The correct choice is option (b) which can be inferred from the second paragraph which mentions,” Positing in October that the ‘upside risks to long-term inflation and to inflation expectations had become more aggravated’, external member Jayanth Varma had at the time cautioned the committee against falling into “a pattern of policy making in slow motion” guided by an excessive desire to avoid surprises. And while his specific reasons for voting against the grain this week are not immediately available, that the MPC is for now prioritising growth over price stability is clear.”
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