Abstract
Deliberations and Resolutions of Monetary Policy Committee – An Analysis
Highlights
Monetary policy is an important macroeconomic policy of the apex bank (Reserve Bank of India, RBI) of the country
It may be noted here that based on an amendment made to the Reserve Bank of India Act, 1934 in the month of May 2016,1 the Government of India (Government, GoI), in consultation with the apex bank,notified 4 per cent Consumer Price Index (CPI) inflation2 as the target for the period from 5 August 2016 to 31 March 2021with 2.3Therefore, if the average inflation is higher than the upper tolerance limit (i.e.,6 per cent) or Inchara P
By ensuring price stability,itaims at achieving sustainable growth.maintenance of price stability and promotion of economic growth are the two major objectives which both the apex bank and the government are determined to achieve through the monetary policy
Summary
Monetary policy is an important macroeconomic policy of the apex bank (Reserve Bank of India, RBI) of the country It (i.e., monetary policy) plays a stupendous role as it primarily aims at maintaining price stability by managing money supply and interest rate. By ensuring price stability,it (i.e., monetary policy)aims at achieving sustainable growth.maintenance of price stability and promotion of economic growth are the two major objectives which both the apex bank and the government are determined to achieve through the monetary policy (of MPC). This responsibility is entrusted to a new authority, Monetary Policy Committee (MPC)
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