OCS Prelims Exam 2023

  • Inflation Targeting: The government amended the RBI Act, 1934 in May 2016 to provide a statutory basis for the implementation of a flexible inflation targeting framework.
    • Under Section 45-ZA of the Reserve Bank of India Act, 1934, the Central Government, in consultation with the Reserve Bank of India determines inflation targeting for five years in terms of the consumer price index.
    • On March 31, 2021, Central government has set the inflation target at 4% with a flexibility of 2% for 5 years.
  • Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA): It has been helpful in achieving the Sustainable Development Goals (SDG) in India, ....
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