A practitioner’s perspective of fiscal policy, and economic reforms.

*Bank Rate kept unchanged *Cash Reserve Ratio to be increased by 50 basis points to 7.0 per cent with effect from the fortnight beginning August 4, 2007 *GDP growth projection for 2007-08 retained at around 8.5 per cent, barring domestic or external shocks

Management of capital accounts in the global context and in the Indian context. [Inaugural address delivered by Dr. Y. V. Reddy, Governor, Reserve Bank of India at the Annual Conference of the Indian Econometric Society].