Not possible to be both.

"Central banks should try to minimize an economic downturn if possible, but must prioritize taming inflation above any other goal, the Bank for International Settlements has urged," BI. "In May, inflation hit a four-decade high of 8.6% in the US and reached a record of 8.1% in the eurozone." "Failing to act now would mean that rising prices become a permanent feature of developed economies, which would likely necessitate aggressive interest rate rises in the future, the BIS added." India has different priorities. "The Indian economy has barely recovered from the impact of the coronavirus pandemic and it should be ensured that there is 'no intolerable growth sacrifice' in attempts to tame inflation 'too abruptly', according to RBI's Monetary Policy Committee (MPC) member Jayanth R Varma," ET. Varma, an external member of the MPC, is a professor of finance and accounting at IIM Ahmedabad. IIM stands for Indian Institutes of Management, which are business schools owned by the central government, wikipedia, and Ahmedabad is the capital of Gujarat state, the home state of Prime Minister Narendra Modi. Reserve Bank of India's (RBI) Deputy Governor Michael Patra recently warned that tighter monetary policy "is not likely to be painless" for the stock markets, moneycontrol. "An increasing proportion of direct equity investors become vulnerable, as consumers, to the vagaries of the stock market and can become a threat to financial stability given that many such individuals have some form of debt on their balance sheets, not to mention the daredevils who have left their salaried jobs to embrace the market full-time." "Sebi's cash market data shows that FPIs (foreign portfolio investors) have sold stocks worth over Rs 4.1 lakh crore (Rs 4.1 trillion) in the primary market," while, "On the other hand, domestic investors have bought stocks worth about Rs 3.3 lakh crore in the last 15 months," ET. Authorities seem more worried about markets than about Indians who may lose all their wealth. While the present chief economic advisor Anantha Nageswaran praised the government and the RBI for the recovery from the pandemic, "a former chief economic advisor to the same government , Arvind Subramanian, raised questions about the autonomy and integrity of the RBI as an institution as it has been converted into a 'mere extension' of the government," The Wire. "While the mandate of the RBI is to keep inflation rate at around 4%, since 2019, it has been above the 6% ceiling for 56% of the time." "This, he says, has been in part to do with the RBI's efforts to act as the government's face-saver instead of being true to its mandate." The RBI may kowtow to the government, but foreigners don't care. They show their contempt by selling out, resulting in the rupee falling to a record low of 78.51 to the US dollar yesterday, News18. It was down to 78.90 against the dollar a little while back, xe.com. A weak rupee will push up prices even further. The RBI can be a central bank or a sycophant. Can't be both.