UPSC Darpan

PaisaMarichi · UPSC

MPC, repo corridor aur imported inflation: ek GS3 note

Brent $100 se upar, monsoon kamzor, aur Fed ki dar upar: MPC ke paas asli vikalp kya hain?

Socho pehle… phir dekho jawab

MPC ek statutory committee hai (RBI Act, 1934, Section 45ZB) jo repo rate tay karti hai. Tel jaise supply-side jhatkon par monetary policy ki seema hoti hai.

Sanvaidhanik/Statutory: RBI Act, 1934 ki Section 45ZB ke tahat chhe sadasyon ki MPC: Governor (chair), monetary policy ke liye Deputy Governor, ek RBI adhikari, aur Centre dwara niyukt teen baahri sadasya. Faisla bahumat se; barabari par Governor ka casting vote. Section 45ZA ke tahat Centre har paanch saal mein inflation target tay karta hai; ET ke mutabik yeh 4% hai, 2% band ke saath.

Corridor: SDF repo se 25 bp neeche, MSF 25 bp upar. RBI ke rate page par repo 5.25%, SDF 5.00%, MSF 5.50%. 25 bp badhat par SDF 5.25% aur MSF 5.75% ho jaayengi.

Context (ET): MPC 5 se 7 October ko baithak kar rahi hai, faisla 7 October ko. 21 mein se 20 economists ko 25 bp badhat (5.25% se 5.50%) ki ummeed. Retail inflation August mein 4.82% (target 4% se upar); Brent $100 se upar, FY27 ke $85 ke anuman ke virudh; monsoon mein kareeb 13% ki kami; India-US 10-year yield antar 189 bp. Yeh preview hai, faisla nahi.

Prelims trap: MPC ka inflation target RBI akele tay nahi karta; Centre karta hai. Aur MPC mein teen baahri sadasya Centre dwara niyukt hote hain. Mains angle: GS3 resource mobilisation aur monetary policy; seemaayein: supply-shock (tel) par repo poori tarah kaam nahi karta, aur badhat se growth par bojh pad sakta hai.

Ghar pe try karo

150 shabd mein likho: 'Imported inflation ko monetary policy se rokne ki seemaayein.' Isme repo transmission, supply-side jhatke aur rupaye ke dabaav, teeno shamil karo.

Wow!

MPC ka inflation target RBI nahi, Centre tay karta hai. Yeh Section 45ZA mein likha hai.

3 sawaal

  1. MPC kis section ke tahat banti hai?
    Jawab dekho

    Section 45ZB, RBI Act, 1934. MPC RBI Act, 1934 ki Section 45ZB ke tahat banti hai.

  2. MPC mein tie hone par kya hota hai?
    Jawab dekho

    Governor ka casting vote. Barabari par Governor ka casting vote hota hai.

  3. Trap: inflation target kaun tay karta hai?
    Jawab dekho

    Centre, har paanch saal mein (Section 45ZA). Section 45ZA ke tahat Centre target tay karta hai.

NCERT se jodo: GS3 — Economy (inflation, monetary policy, banking); GS2 — governance (statutory bodies)

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