RBI’s Report on Missing Inflation Target

For the first time recently, RBI has decided to submit a report to the government on its failure to keep the retail inflation rate below 6% for three consecutive quarters beginning January 2022.

  • In this report, RBI will have to mention the remedial actions and an estimated time within which inflation target will be achieved.

About Inflation Targeting

  • It means bringing the inflation to a targeted level within a specific time horizon.
  • RBI adopted flexible inflation targeting (FIT) through the signing of Monetary Policy Framework Agreement (MPFA) in 2015.
  • Section 45-ZA of the RBI Act, 1934 requires that the central government ....
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