Inflation Targeting — Mains Questions

Critically analyze the effectiveness of India's flexible inflation targeting framework in achieving price stability and fostering economic growth since its adoption in 2016. What are the major challenges it has faced?

Examine the composition and decision-making process of the Monetary Policy Committee (MPC). How has its establishment enhanced the credibility and transparency of India's monetary policy?

Compare India's flexible inflation targeting framework with the monetary policy approaches adopted by advanced economies. What lessons can India draw, and what unique adaptations are necessary given its economic structure?