In this article, I would like to explore some of the thinking around issues in inclusive growth and development in the face of recent economic and financial crisis. We use recent articulations by a cross-section of central bankers and use this as a backdrop for the way the Reserve Bank of India and the Government of India deal with challenges to macroeconomic stability. The article lays out a simple framework, which I find useful to think about monetary policy and central banking and then use it to discuss issues that have emerged in the post-crisis debates.
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