In March 2020, RBI made announcement about the next quarterly monetary policy with various changes. Define in detail, how this monetary policy affects the aggregate demand in Indian economy in present scenario?
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Monetary policy affects the aggregate demand in Indian economy in present scenario
Explanation:
- The monetary policy is formulated by the RBI in March 2020 involves various changes in regulation of money and rate of interests for lending of credit money.
- The monetary policy of India is significant for the promotion of economic development and growth.
- Monetary policy promotes balance of payments by encouraging exports than imports.
- The monetary policy uses credit control during the boom period and the depression period during the phase of business.
- Monetary policy reduces the interest rate to promote small scale industries.
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Define in detail, how this monetary policy affects the aggregate demand in Indian economy in present scenario?
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