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

2022

In India, which one of the following is responsible for maintaining price stability by controlling inflation ?
(a) Department of Consumer Affairs
(b) Expenditure Management Commission
(c) Financial Stability and Development Council
(d) Reserve Bank of India

(a)

Department of Consumer Affairs

(b)

Expenditure Management Commission

(c)

Financial Stability and Development Council

(d)

Reserve Bank of India

Answer:

(d)

Factual

Core Books/NCERT

Explanation

As per the RBI act amendment of 2016, inflation control is the responsibility of RBI. Presently they are trying to control the inflation between 2 to 6% CPI (All India). Option (d) is correct.