The inflation target is set by the central government, in consultation with the RBI, once in how many years?

Question

The RBI Act was amended, under which inflation target is set by the Central government, in consultation with the RBI, once every five years.
As the five-year term for the Monetary Policy Committee’s (MPC’s) inflation-targeting framework is to end this March, the inflation target band of 2-6 per cent is also to be reviewed.

GKToday Admin · Accepted Answer

Five The RBI Act was amended, under which inflation target is set by the Central government, in consultation with the RBI, once every five years.
As the five-year term for the Monetary Policy Committee’s (MPC’s) inflation-targeting framework is to end this March, the inflation target band of 2-6 per cent is also to be reviewed.

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