Q68. In India which one of the following is responsible for maintaining for 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
Answer (d)
- The Reserve Bank of India is India’s central bank has the key function of keeping check on inflation by use of monetary policy in the forms of qualitative and quantitative measures. The Reserve Bank of India is responsible for maintaining price stability and controlling inflation. It is the responsibility of the MPC in India, but RBI itself plays a large role in the MPC and also carries out task of monetary policy committee.
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