What should be the focus of monetary policy this fiscal year?Expert Views

It's almost time for monetary policy to be unveiled. Here are some opinion of our experts on the same issue. Ajaya Kumar Mishra CEO, Siddhartha Development Bank Limited Its very challenging to manage inflation as per budgetary expectation. Monetary policy should be concentrated on this. We as a banker expect no ceiling to control interest spread also the  lending lower than base rate should be discouraged. As a development banker, we expect to expand our business at par to commercial banks. The  interest rate services offered to development banks should be similar to that of commercial banks. There should be no differences in range of service of development bank and commercial bank.   Sandeep Bikram Rana MD, Sharesansar.com The budget has a target of 6.5 percent growth and maintain inflation at 7.5 percent. Monetary policy should support the budget to meet the targeted growth rate and inflation control target. To meet the targeted growth rate, it is very essential to have an investment friendly environment. The investment should be made in the productive sector. So, the monetary policy should be such that it should support investment in productive sector. In reality, the inflation is in double digit as at present most part of the investment are directed towards non-productive sector like share market ,real estate and retail sectors. Monetary policy should bring policies which directs flow of money from unproductive sectors to productive sectors which will help to achieve budget target of growth and controlling inflation.   Bhuvan Kumar Dahal Chief Executive Officer, Sanima Bank Limited It would be better if monetary policy is focused towards controlling inflation.