Page 261 - DECO402_MACROECONOMIC_THEORY_PUNJABI

iekweI-27: modirk nIqI

iv`c vI invyS krx dI ieCw nhI rKdy hn[ iehdy ielvW, srkwrI pRiqBuiqAQ iv`c ivvyS krx dI bjwey auh È؇
Apxy irjrvW ƒ qrl rup iv`c ijvy sonw, ivdySI mudrw Aqy nkdI iv`c rKxw psNd krdy hY[ kmriSXl bNYk
vI kyNdrI bYNk qo auDwr lYx jW dubwrW btw krdy rihxw nhI cwhdy[
bYNk dr nIqI vI hyT kwrxW dy kwrx ieho ijhy dySW iv`c aunI pRBwvkwrI nhI hMudI hY –(i) b`ty dy iblW iv`c
kMmI; (ii) ibl mwrikq dw sMkuicq Awkwr; (iii) ivSwl gYr-modrIkirq Kyqr ijQy vsqu ivinmX huMdw hY;
(iv) dysI bYNkW dw Asiqqv jyVw kyNdrI bYNk dy nwl iblW dw b`tw nhI krdy hn; (v) ivSwl nkd irzrv rKx
dI kmriSXl bYNkW dI pRviriq; Aqy (vi) ivSwl ASMgiTq mudrw bwjwr dw hoxw[
modirk nIqI dy aupkrx dy rup iv`c pirvrqnSIl irzrv Anupwq (Variable Reserve Ratio) dw aupBog
LDCs iv`c bYNk dr nIqI Aqy Kuly bwjwr pRcwlnW dI ApySW v`D pRBwvkwrI huMdw hY[ ikauik pRiqBuiqAW dw bwjwr
bhuq Cotw hY iesleI Kuly bwzwr pRcwln sPl nhI hn[ pr kyNdrI bYNk rwhI pirvrqnSIl irzrv Anupwq
iv`c viriD jW kMmI pRiqBuiqAW dI kImqW qy ibnW ault pRBwv pwey kmriSXl bYNk dy kol aplbD nkdI ƒ
v`Dwdy jW G`tw iddy hn[ dubwrW kmriSXl bYNk ivSwl nkd irjrv rKdy hn jyVy kyNdrI bYNk rwhI G`twey nhI
jw skdy[ pr nkd irjrv Anupwq ƒ v`Dwx nwl bYkW dI qrlqw G`tdI hY[ LDCs iv`c pirvwrqnSIl irzrv
Anupwq dy apXog dI kuJ sImwvW hn – pwihlI cuMik gYr-bYNikMg ivqIX mDXsQ kyNdrI bYNk dy kol jmwvW ƒ
nhI rKdy hY iesleI auh iedy nwl pRBwivq nhI huMdy[ dujy auh bYNk jyVy v`D qrlqw nhI rKdy hn, auhnW dy
bjwey jyVy rKdy hn, v`D pRBwivq huMdy hn[
pr swK dy AwvMtn nUM pRBwivq krn Aqy PlsrUp invyS dI pd`qI nUM pRBwivq krn ivc mwqrwqmk apwvW
dI ApySw guxwqmk swK inXMqrx (qualitative control; measures) apwX v`D pRBwvkwrI huMdy hn[LDCs
ivc ikRSI, Kdwn, plWtySn Aqy aDXog ivc aplb`D ivklipk aqpwdkIX sroqW dI ApySw svrx, ABuSx,
mwlsuicAW, vwsqivk sMpdw Awid ivc invyS krn dI pRbl pRvriq pweI jWdI hY[ AYsy AnuqpwdkIA audySW
dy leI swK suivDwvW nUM inXMqirq Aqy sIimq krx dy leI cXnwqmk swK inXMqrx v`D apXukq huMdy hn[ auh
KdwnW Aqy k`cy mwl dy ivSy ivc s`tw ikirAwvW nUM inXMqirq krn ivc lwBdwiXk huMdy hn[auh ArQivvsQw
ivc AnuBwigA sPIiqAW (sectional inflations) nUM rokx ivc v`D apXogI is`D huMdy hn[ auh AwXwqkrqwvW dy
leI ivdySI mudrw dy brwbr Agirm rkm ivc jmw krnw jrUrI bxw ky AwXwq dy leI mMg ktoqI krdy hn[
iesdw ieh pRBwv vI pYNdw hY ik bYNkW dy AwrkSx G`t jWdy hn ijQy q`k ik ies pRikirAw ivc ahnW dy jmw
kyNdrI bYNk nUM hsqWqirq ho jWdy hn[ cXnwqmk swK inXMqrx apwv inSicq pRkwr dy jmwnq, apBokqw swK
inXmn Aqy swK dI rwSinMg dI bjwey sImw jrUrqW dy bdlwv dy rUp ivc ho skdy hn[
2. kImq siQrqw pRwpq krnw (To Achieve Price Stability) - kImq siQrqw pRwpq krn dy leI modirk
nIiq iek mhq`vpUrx Aozwr hn[ ieh mudrw mMg Aqy pUriq ivc smuicq smwXojn (adjustment) ilAWdI hY[
iehnW dovW ivc AsMquln, kImq pD`r ivc pRiqibMbq ho jwvygw[ mudrw pUriq ivc kmI virDI nUM rok dygI,
jdik iesdI AiDkqw sPIiq ilAweygI[ jdoN ArQivvsQw ivkws dy v`l AgRsr huMdI hY qW KyqI Aqy auiDAoigk
aqpwdn ivc virDI nwl Aqy gYr-modirk Kyqr ivc holI-holI pirvriqq hox nwl mudrw dI mMg vD~dI hY[
iesnwl lYx-dyx Aqy s`tw audySW dy leI mudrw dI mMg vI vDygI[iesleI modirk AiDkwrI nUM sPIiq rokx dy
leI Aqy kImqW ivc siQrqw ilAwaux dy leI mudrw dI pUriq nUm mudrw dI mMg dy Anupwq qoN v`D vD`wxw pvygw[
3. Bugqwn- bwkI Gwtw G`t krnw (To Bridge BOP Deficit) - ibAwz dr nIiq dy rUp ivc modirk nIiq
Bugqwn bwkI dy Gwty nUM pUrw krn dy leI bhuq mhq`vpUrx kMm krdI hY[ ivkws dy inXoijq lkiSAW nUM pUrw
krn dy leI ivkwsSIl ArQivvsQwvW nUM gMBIr Bugqwn bwkI dIAW muSklW dw swmxw krnw pYNdw hY[ ibjlI,
iscweI, AwvwjweI AwdI ijhw buinAwdI FWcw sQwipq krx, Aqy lohw Aqy iespwq, arvrk, rswiXn Awid
pRiqAkSqw aqpwdkIX ikirAWvw dy leI AYsy dySW nUM pUMjI apkrx, mSInrI, kc`wmwl, purjy Aqy apskr
AwXwq krxy pYNdy hn[ijsnwl ahnW dy inirXwq ivc virDI huMdI hY[ pr ahnW dy inirXwq giqhIn huMdy hn
Aqy sPIiq dy kwrx inirXwq dIAW kImqW vI aucIAW huMdIAW hn[ pirxwmsrUp, AwXwq Aqy inirXwq ivc
AMqr pYdw ho jWdw hY, ijsnwl Bugqwn bwkI AsMquilq ho jWdw hY[ modirk nIiq aucI ibAwj dr rwhIN Bugqwn
bwkI dy Gwty nUm G`t krn ivc shwiek ho skdI hY[ aucI ibAwz dr invySW dy AMqr –pRvwh nUM pRoqswhn dyky
Bugqwn bwkI dy AMqr nUM G`t krx ivc shwiek huMdI hY[

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