Ahead of the RBI's periodical policy appraisal, Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday said scheming price rises should not be the only goal of central banks.
"My emotion is that middle banks have to look at numerous targets, central banks ought to not look only at price rises aim...," he said at an occasion.
After hiking rule rate in two successive policies, the Reserve Bank kept did not modify the attention rate pregnant that price rises would reasonable, amid others.
The RBI is listed to proclaim its third district financial strategy appraisal on January 28 in the milieu of manufacturing command to decrease the key strategy rate (repo).
Ahluwalia also inclined for additional liberalisation of the country's economic division.
"We should persist to liberalise. We have to keep in mind, we were correctly well keeping pace. We should vigorously keep liberalising our monetary division...," he said.
The RBI of late gave autonomy to banks to open twigs and is also in procedure of issuing new bank licences in the confidential division.
Recommending far-reaching changes in the banking arrangement, an RBI board has also optional setting up of specialised banks to cater to low proceeds households to make sure that all populace have bank financial records by 2016.
It also optional that ability for removal, sum and leave should be set up within a 15-minutes on foot aloofness somewhere in the country.
Referring to International Monetary Fund (IMF), Ahluwalia said: "India does not have complain about IMF. But East Asian crisis did produce some extensive unhelpful notion about IMF. The IMFs lending to Europe can be questioned. IMFs lending to Greece can be questioned...," he further.
About rupee, he said: "The rupee is at its genuine worth now."
The local legal tender stopped up on Monday at one-month high of 61.52 beside dollar. Last year in August, it plunged to duration low of 68.85.
Speaking at the juncture, Nobel laureate Joseph Stiglitz said that irritated edge resources flows are major foundation of volatility in rising countries and central banks must control cross border resources.