From the minutes of the
29th Monetary Policy Committee (MPC) Meeting of the 11 March 2013 , it seems
that we are being taken for a ride by both the Ministry of Finance (MOF) and
the Bank of Mauritius (BOM). The fiscal policy/monetary policy regime influences
the depth and duration of downturns and time for recovery. With growth clocked
at an average annual growth of 3.5 % for the past five years, is it not time to review the country’s growth strategies?-
Growth must come up first.!!! To the Governor of the Reserve Bank of India, Dr Duvvuri Subbarao’s concern that
a Central Bank must be responsive to the needs of the downtrodden,( in its pursuit to rein in inflation) there is also the argument that growth is the right potion
to lift the poor out of poverty , be it directly through government programmes
or indirectly through a trickle down. But how long will the general public
accept low growth and its manifold impact?
