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Impact of bank rate on gross domestic product Reena Research Scholar Imsar, MDU, Rohtak. Email Address: tanwarreena2012@gmail.com Online published on 20 September, 2018. Abstract By monetary policy, we mean policy concerned with changes in the supply of money. Issues connected with monetary policy are: objectives or goals of the policy, instruments of monetary control, its efficacy, implementation, intermediate target of the policy etc. India”s monetary policy since the first plan period was one of ‘controlled expansion”-that is, a policy of adequate financing of economic growth ensuring reasonable price stability. Thus, RBI helped the economy to expand via expansion of money and credit and attempted to check rise in prices through monetary and other control measures. The Present paper is an attempt to highlight the impact of monetary policy changes on economic growth which covers 10 financial years from 2006–07 to 2015–16. This study is purely based on secondary data. This study exhibited positive correlation between bank rate and GDP(r =0.536). Value of R square is 0.287 bank rate account for 28 percent of variation in GDP. According to Durbin Watson test value of d is 1.098 showed that there is positive correlation between bank rate and GDP. Top Keywords GDP, Bank Rate and Economic Growth. Top | |
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