In India, which one of the following is responsible for maintaining price stability by controlling inflation?

The Reserve Bank of India (RBI) is the central bank of India and is responsible for maintaining price stability in the country by controlling inflation. The RBI uses various monetary policy tools to achieve this goal, such as adjusting the repo rate (the rate at which it lends to commercial banks), managing the money supply, and conducting open market operations.

The RBI's primary objectives include:

• Maintaining price stability
• Ensuring adequate flow of credit to productive sectors
• Promoting financial stability
• Developing a sound and efficient financial system

The other options listed are not directly responsible for controlling inflation and maintaining price stability in India:

• The Department of Consumer Affairs focuses on consumer protection and welfare.
• The Expenditure Management Commission was set up to suggest reforms in government expenditure and subsidies.
• The Financial Stability and Development Council coordinates India's financial sector regulators and monitors macro-prudential regulation.

Reserve Bank of India