Context: Instead of just increasing the number of billionaires and bloating their size, central bank monetary policy must actually focus on boosting the real economy, by stimulating growth; hence enabling employment.
Proliferation of Billionaires around the world
Role of Monetary Policy in generating inequality
Issues with the COVID-19 Resolution Framework:
Way Ahead:
Conclusion: Rather than merely boosting stock prices, RBI’s target of creating liquidity should be to raise production and reach the targeted economic agents. The GoI should do more to provide ample stimulus to the economy.