Question

Consider the following statements: Statement I: In India, Central Government determines the inflation target, in consultation with Reserve Bank of India, in terms of Consumer Price Index once in five years. Statement II: At present, the Monetary Policy framework in India is operated by Central Government. Which of the following is correct in respect of the above statements?

A Consider the following statements: Statement I: In India, Central Government determines the inflation target, in consultation with Reserve Bank of India, in terms of Consumer Price Index once in five years. Statement II: At present, the Monetary Policy framework in India is operated by Central Government. Which of the following is correct in respect of the above statements?
B Both statement I and statement II are correct and statement II is not the correct explanation for statement I
C Statement I is correct but statement II is incorrect
D Statement I is incorrect but statement II is correct
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