What steps has the Indian government taken to control inflation
Discuss the measures implemented by the current government to address inflation in India.
The Indian government has adopted several measures to control inflation. Here are some steps taken by the current government:
- Implementing a flexible inflation targeting framework by setting a target for retail inflation.
- Monitoring and regulating prices of essential commodities to prevent sudden price spikes.
- Encouraging supply-side interventions such as increasing agricultural productivity and streamlining distribution channels.
- Enhancing monetary policy by adjusting interest rates to manage inflation levels.
- Regularly reviewing and revising import/export policies to stabilize prices in the domestic market.
- Promoting competition in key sectors to prevent monopoly pricing behavior.
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a year ago