Govt. retains 4% inflation target for RBI’s rate panel for 2021-26
The Hindu
Centre’s decision ensures ‘continuity’, ends speculation over price stability goals
The Centre has decided to retain the inflation target of 4%, with a tolerance band of +/- 2 percentage points for the Monetary Policy Committee of the Reserve Bank of India for the coming five years, a top finance ministry official said on Wednesday. “The inflation target for the period April 1, 2021, to March 31, 2026, under the Reserve Bank of India Act, 1924, has been kept at the same level as it was for the previous five years,” said Economic Affairs Secretary Tarun Bajaj. “So there’s no change,” he added. He dismissed queries on whether the focus had shifted to core inflation or any other component of retail inflation and hinted that the framework would remain ‘the same’ as earlier.
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