New Delhi: The Reserve Bank of India will be responsible for setting its target for consumer price inflation under a monetary policy pact with the finance ministry, Finance Secretary Rajiv Mehrishri said on Monday.
Under the pact, the RBI would seek to cap consumer price inflation at 6 per cent by January 2016. It would then adopt a symmetrical target of 4 per cent, at the centre of a range of 2 to 6 per cent, from 2016/17.
© Thomson Reuters 2015
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