The Flexible Inflation Targeting Framework (FITF) was…

Question

The Flexible Inflation Targeting Framework (FITF) was introduced in India post the amendment of the Reserve Bank of India (RBI) Act, 1934 in __________.

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Question & Answer (English)

The Flexible Inflation Targeting Framework (FITF) was introduced in India post the amendment of the Reserve Bank of India (RBI) Act, 1934 in __________.

  1. 2010
  2. 2014
  3. 2016 — Correct Answer
  4. 2020
Explanation:

The Flexible Inflation Targeting Framework (FITF) was formally adopted in India in 2016.

  • The Reserve Bank of India (RBI) Act, 1934 was amended in May 2016 to provide a statutory basis for this framework.
  • Under this framework, the government, in consultation with the RBI, sets the inflation target. Currently, the target is 4% with a tolerance band of + or - 2% (i.e., between 2% and 6%).
  • This move aimed to ensure price stability while keeping growth in mind.

प्रश्न एवं उत्तर (हिंदी)

भारतीय रिजर्व बैंक (RBI) अधिनियम, 1934 में संशोधन के बाद भारत में लचीला मुद्रास्फीति लक्ष्यीकरण ढांचा (Flexible Inflation Targeting Framework - FITF) __________ में पेश किया गया था।

  1. 2010
  2. 2014
  3. 2016 — सही उत्तर
  4. 2020
स्पष्टीकरण:

भारत में लचीला मुद्रास्फीति लक्ष्यीकरण ढांचा (FITF) आधिकारिक तौर पर 2016 में अपनाया गया था।

  • इसके लिए सरकार ने मई 2016 में RBI अधिनियम, 1934 में संशोधन किया था।
  • इसका मुख्य उद्देश्य महंगाई (मुद्रास्फीति) को एक निश्चित दायरे में रखना है। अभी के लिए लक्ष्य 4% रखा गया है, जिसमें 2% ऊपर या नीचे (यानी 2% से 6% के बीच) की छूट दी गई है।
  • यह सिस्टम उर्जित पटेल समिति की सिफारिशों पर आधारित था।

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This multiple choice question is from General Awareness, General Awareness (2024), General Awareness (2024)-9, SSC CGL Tier-1 (PYQs). It has 4 options with a detailed explanation of the correct answer and is available in both English and Hindi (द्विभाषी). Practice more MCQs from General Awareness to strengthen your preparation.

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