Inflation targeting; MPC; FRBM

This topic appears frequently in Prelims as direct factual questions on RBI's inflation target, MPC composition, and FRBM provisions. Examiners test precise knowledge of the 4% inflation target, MPC decision-making framework, and fiscal deficit caps under FRBM. Common errors: confusing inflation target with tolerance band, misremembering MPC member composition, or conflating FRBM with monetary policy.