Impact of Monetary Policy on Indian Economy in the Post-Reform Period

The present study was an attempt to analyze systematically the techniques of monetary control measures with its relevance and changing importance and to find out their effectiveness in the Indian context especially to achieve the thriving objectives of price stability and economic growth.There is definite and remarkable economic impact of monetary policy on Indian economy in the post-reform period. The importance of monetary policy has been increasing year after year. Its role is very relevant in attaining monetary objectives, especially in managing price stability and achieving economic growth. Along that, the use and importance of monetary weapons like Bank rate, CRR, SLR, Repo rate and Reverse Rate have increased over the years. Repo and Reverse Repo rates are the most frequently used monetary techniques in recent years. The rates are varied mainly for curtailing inflation and absorb the excess liquidity and hence to maintain price stability in the economy. Thus, this short-time objective of price stability is more successful on Indian economy rather than other long-term objectives of development.Monetary policy rules can be active or passive. The passive rule is to keep the money supply constant, which is reminiscent of Milton Friedman’s money growth rule. The second, called a price stabilization rule, is to change the money supply in response to changes in aggregate supply or demand to keep the price level constant. The idea of an active rule is to keep the price level and hence inflation in check. In India, this rule dominates our monetary policy. A stable growth is healthy growth.

A Classification of Sandhi Rules for Suffix Separation in Malayalam

Suffix separation plays a vital role in improving the quality of training in the Statistical Machine Translation from English into Malayalam. The morphological richness and the agglutinative nature of Malayalam make it necessary to retrieve the root word from its inflected form in the training process. The suffix separation process accomplishes this task by scrutinizing the Malayalam words and by applying sandhi rules. In this paper, various handcrafted rules designed for the suffix separation process in the English Malayalam SMT are presented. A classification of these rules is done based on the Malayalam syllable preceding the suffix in the inflected form of the word (check_letter). The suffixes beginning with the vowel sounds like ആല, ഉെെ, ഇല etc are mainly considered in this process. By examining the check_letter in a word, the suffix separation rules can be directly applied to extract the root words. The quick look up table provided in this paper can be used as a guideline in implementing suffix separation in Malayalam language