Ashima Goyal

Ashima Goyal

Dr. Ashima Goyal is Emeritus Professor of Economics in the Indira Gandhi Institute for Development Research. She was a member of the RBI Monetary Policy Committee.

Using Monetary Policy’s Degrees of Freedom

Monetary Policy

Calls for rate hikes to support the rupee overlook the flexibility built into India’s inflation-targeting framework and the RBI’s wider toolkit.

Ashima Goyal

June 3, 2026 at 3:12 AM IST

Article related image

Why the Budget Should Support Development Goals

Budget 2026

Beyond headline numbers, this Budget must align fiscal discipline with productivity, inclusion and institutional reform to sustain growth and realise Viksit Bharat.

Ashima Goyal

January 23, 2026 at 6:04 AM IST

Article related image

iStock.com

MPC Signals Maturity as Policy Counters Shocks with Confidence

Monetary Policy

India’s MPC breaks from old precautionary playbooks, using countercyclical policy and clearer signalling to steady growth, inflation and financial stability.

Ashima Goyal

December 8, 2025 at 3:30 AM IST

Article related image

RBI Tweets

Inflation Targeting Needs Flexibility, Not Unanimity

Monetary Policy

When monetary consensus turns to groupthink, inflation targeting risks losing its flexibility—and its purpose.

Ashima Goyal

November 13, 2025 at 2:35 AM IST

Article related image

Review of MPC Decision: What Does it Mean to be Forward-Looking?

Monetary Policy

Is it forward-looking to let policy be decided by base effects, rather than encouraging the anchoring of inflation expectations at the target?

Ashima Goyal

October 1, 2025 at 5:26 PM IST

Article related image

The Bureau

Flawed Design, Poor Planning Make Extreme Heat Conditions Worse For Indian Cities
Video Thumbnail
The Foster Mother of Lodhi Garden
Image
Shyam Sundar Sharma