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?

[UPSC Civil Services Exam – 2022 Prelims]

(a) Department of Consumer Affairs

(b) Expenditure Management Commission

(c) Financial Stability and Development Council

(d) Reserve Bank of India

Answer: (d)

Explanation:

Reserve Bank of India is India’s central bank has key function to keep check on the inflation by use of monetary policy in forms of qualitative and quantitative measures.
In 2016, the Monetary Policy Committee (MPC) was established to enhance transparency and accountability in the decision-making process of monetary policy.
The committee is responsible for determining the policy interest rate required to achieve the inflation target, which is set once in five years by the Government of India in consultation with the Reserve Bank.
The MPC comprises of six members, with three from the RBI and three selected by the government, and is chaired by the Governor of the RBI. The current inflation target is 4% with a tolerance range of -2/+2.

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Consider the following statements:

Consider the following statements: The Parliament of India can place a particular law in the Ninth Schedule of the Constitution of India. The validity of a law placed in the Ninth Schedule cannot be examined by any court and no judgement can be made on it. Which of the statements given above is/are correct?

Consider the following statements:

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Categories

Which one of the following Schedules of the Constitution of India contains provisions regarding anti-defection?

The provisions in Fifth Schedule and Sixth Schedule in the Constitution of India are made in order to

Under which Schedule of the Constitution of India can the transfer of tribal land to private parties for mining be declared null and void?

The Ninth Schedule was introduced in the Constitution of India during the prime ministership of

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Categories

Which one of the following Schedules of the Constitution of India contains provisions regarding anti-defection?

The provisions in Fifth Schedule and Sixth Schedule in the Constitution of India are made in order to

Under which Schedule of the Constitution of India can the transfer of tribal land to private parties for mining be declared null and void?

The Ninth Schedule was introduced in the Constitution of India during the prime ministership of

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Download Neyyar App

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