Is the economy ready to have an inflation targeting?

As long as RBI does not enjoy autonomy and is dictated by the Government it cannot have its own monetary policy objective. Further, in the context of the Country's socio-economic-political conditions remaining below at a reasonably acceptable level justifying the welfare of majority of masses, RBI cannot have an inflation targeting objective at the cost of economic growth, financial stability and monetary stability. The economy is not that matured to have even a trial on inflation targeting.

Dr.T.V.Gopalakrishnan
(This comment is in response to RBI has not yet moved to inflation targeting appeared in Business Standarddated 21/3/14).