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Start learning 50% faster. Sign in now Monetary policy is a set of actions taken by a country's central bank to control the money supply and interest rates. Monetary policy is different from Fiscal Policy which is managed by the Ministry of Finance and measures the spending and taxation in the Indian Economy. Hence, statement I is correct. Monetary Policy is formed and managed by the Reserve Bank of India to control a nation's overall money supply and achieve economic growth. Hence, statement II is correct. The MPC determines the policy repo rate required to achieve the inflation target while other decisions are taken by the RBI. Hence, option B is correct because both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-I.
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