write about role of the government and RBI in controlling the prices
Answers
RBI is a financial institution of India and we have to understand that clearly.
One of Central bank of India is RBI whose main aim is to give such policies (monetary)that confirms smooth movement of economy during the time of turmoil as India was exposed to global crunch during the year 2007 to 2008 financial year.
Indian economy raised its point for survival and evolved like king and the way to control RBI.
Answer:
The RBI or the Reserve bank of India is a premier banking institution, that is the main institution responsible for setting and controlling the monetary policy of the Indian economy. It is the government and the RBI that is responsible for controlling the prices of commodities in our country. They prescribe various parameters of pricing and economy which is then followed to set the standard prices or the increment or decrements of the prices of the commodity.