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Annual Monetary and Credit Policy for the year 2004-2005
-Announced on the 18th May 2004

Dr. Y.Venugopal Reddy, Governor, presented the annual policy Statement for 2004-05. At the outset, Governor mentioned that the Statement follows the pattern already set in the previous years. Broadly, the Statement covered a review of macroeconomic and monetary developments with several analytical and structural issues concerning financial sector and monetary policy.

It delineated and elaborated on various areas in which RBI has been taking measures from time to time and provided a focus on broad policies that are intended to be pursued for the year 2004-05, while retaining the flexibility to take specific measures promptly and effectively as the evolving circumstances warrant.

He announced a number of measures for strengthening the financial system, improving the credit delivery mechanism and indicated measures addressing institutional improvements to support growth consistent with stability in a medium-term perspective. He also underscored the need to deepen the consultative process to achieve further social good.

I   Domestic Developments

II  External Developments

III Overall Assessment

IV  Stance of Monetary Policy

V   Monetary Policy Measures

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