Under Section 45ZA, RBI Act, 1934, the Central Government, in consultation with the RBI determines the inflation target in terms of the Consumer Price Index (CPI) once in _________years.a)  Three Yearsb)  Four Yearsc)  Five Yearsd)  Six Years

RBI's role on controlling inflation

The 5-year target for inflation, from April 1, 2021, to March 31, 2026, has been set by the central government, with an upper and lower tolerance limit of and percent, respectively.a.5,2b.6,2c.4,8d.4,5

Inflation Target'

The consumer price index (CPI), published by the Australian Bureau of Statistics, measures household inflation. In the June quarter of 2022, the CPI index was 126.1 and the percentage change from the corresponding quarter of the previous year was 6.1%. Given this information, the CPI index in the June quarter of 2021 was:  121.3   122.1   118.8                        119.7

The inflation adjustment (IA) line showsResponsesA the level of inflation in the economy at any point in time.the level of inflation in the economy at any point in time.B the price level in the economy at any point in time.the price level in the economy at any point in time.C the relationship between the interest rate and aggregate demand.the relationship between the interest rate and aggregate demand.D the change in the rate of inflation needed to reach the target inflation rate.