CG notifies factors that constitute failure to achieve inflation target

MINISTRY OF FINANCE
(Department of Economic Affairs)
NOTIFICATION
New Delhi, the 27th June, 2016

S.O. 2215(E).—In exercise of the powers conferred by section 45ZN of the Reserve Bank of India Act, 1934 (2 of 1934), the Central Government hereby notifies the following as factors that constitute failure to achieve the inflation target, namely:—

(a) the average inflation is more than the upper tolerance level of the inflation target notified under section 45ZA of the said Act for any three consecutive quarters; or

(b) the average inflation is less than the lower tolerance level of the inflation target notified under section 45ZA of the said Act for any three consecutive quarters.

[F. No. 12/1/20 16-FSLRC(ii)] Dr. SHASHANK SAKSENA, Adviser