Govt not to make RBI report on MPC's first-ever inflation failure public

MPC is said to have failed to achieve inflation target if average CPI inflation falls outside 2-6% range for three straight quarters. This was the case in the three quarters from Jan to Sept of 2022

The government will not make the Reserve Bank of India’s report on failure to achieve its inflation mandate public, Pankaj Chaudhary, minister of state in the finance ministry said in Parliament on Monday.

“RBI has furnished a report to the central government, as mandated under Section 45ZN of the RBI Act, 1934 and Regulation 7 of RBI Monetary Policy Committee and Monetary Policy process Regulations, 2016,” the minister said.

“The said provisions of the RBI Act, 1934, and regulations therein do not provide for making the report public,” he said.

Under the rules, RBI’s Monetary Policy Committee is deemed to