Q. The inflation target is set by the central government, in consultation with the RBI, once in how many years?
Answer: Five
Notes: 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.

This question is part of Current Affairs Daily 20 MCQs Series Course on GKToday Android app.