RBI Governor Raghuram Rajan has said the central bank and the government are broadly on same page on composition of monetary policy committee, MPC structure. Participating in a television discussion with Chief Economic Adviser Arvind Subramanian, Mr Rajan said MPC agreement has been largely done and the final call on the implementation will be taken by the finance ministry. The government has proposed to set up MPC, which will consist of representatives from the Finance Ministry and RBI, to decide on interest rate. Speaking on the rate cuts, Mr Rajan said the central bank is comfortable with the current level of policy rates till more room builds up. Endorsing Mr Rajan views Chief Economic Adviser Arvind Subramanian said the stance of the monetary policy is accommodative and the RBI is open to more interest cut in the future. On the issue of foreign exchange rate for rupee, the RBI Governor said, it is at the right place at the moment and there was a cost attached to tinkering with the exchange rate. Mr Rajan said the depreciation of currency leads to short-term benefit, but it pushes inflation in medium term.