Inflation target set by government under CPI framework, with a Monetary Policy Committee and enhanced reporting and disclosure obligations. The Act is amended to add definitions for Consumer Price Index, inflation, Monetary Policy Committee and Policy Rate, and to create Chapter IIIF establishing a CPI-based inflation-targeting framework. The Central Government will determine the inflation target in consultation with the Bank; a Monetary Policy Committee chaired by the Governor and comprised of Bank and Government appointees will be constituted; the Bank must provide information to Committee members, publish an implementation document for Committee decisions, and issue a semiannual Monetary Policy Report with inflation sources and forecasts.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Inflation target set by government under CPI framework, with a Monetary Policy Committee and enhanced reporting and disclosure obligations.
The Act is amended to add definitions for Consumer Price Index, inflation, Monetary Policy Committee and Policy Rate, and to create Chapter IIIF establishing a CPI-based inflation-targeting framework. The Central Government will determine the inflation target in consultation with the Bank; a Monetary Policy Committee chaired by the Governor and comprised of Bank and Government appointees will be constituted; the Bank must provide information to Committee members, publish an implementation document for Committee decisions, and issue a semiannual Monetary Policy Report with inflation sources and forecasts.
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