In India, which one of the following is responsible for maintaining price stability by controlling inflation?

In India, which one of the following is responsible for maintaining price stability by controlling inflation?
  1. Department of Consumer Affairs
  2. Expenditure Management Commission
  3. Financial Stability and Development Council
  4. Reserve Bank of India

Solution

Under the amended RBI Act and Monetary Policy Framework, the Reserve Bank of India is statutorily responsible for price stability through inflation targeting (4% +/- 2%).

Asked in: UPSC Prelims 2022

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