2016
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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6
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3
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2
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4
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Detailed explanation-1: -As per the new framework, the central government, in consultation with RBI sets: (i) an inflation target, and (ii) an upper and lower tolerance level for retail inflation. The target has been set at 4%, with an upper tolerance limit of 6% and a lower tolerance limit of 2%.
Detailed explanation-2: -The monetary policy framework was notified in August 2016. The government gave the central bank a 4% CPI inflation target up to March 31, 2021, allowing a 2-6% range. On March 31, 2021, the Centre retained the inflation target and the tolerance band for another five-year period-April 1, 2021, to March 31, 2026.
Detailed explanation-3: -US Expected Change in Inflation Rates: Next 5 Years is at 2.90%, compared to 2.90% last month and 3.00% last year. This is lower than the long term average of 3.20%.
Detailed explanation-4: -India inflation rate for 2021 was 5.13%, a 1.49% decline from 2020. India inflation rate for 2020 was 6.62%, a 2.89% increase from 2019. India inflation rate for 2019 was 3.73%, a 0.21% decline from 2018. India inflation rate for 2018 was 3.94%, a 0.61% increase from 2017.