What is the primary objective of the Monetary Policy Committee (MPC) in India?
- Maintaining price stability while keeping in mind the objective of growth.
- Managing the government's fiscal deficit.
- Ensuring financial stability of commercial banks.
- Promoting exports and foreign exchange reserves.
Answer: A. Maintaining price stability while keeping in mind the objective of growth.
The primary objective of the Monetary Policy Committee (MPC) in India is to maintain price stability, while keeping in mind the objective of growth. This mandate is enshrined in the Reserve Bank of India Act, 1934, which specifies an inflation target of 4