1- It recommended that a new Consumer Price Index (CPI) should be adopted by Reserve Bank of India (RBI) to anchor the monetary policy.
2- The committee has also set an inflation target at 4 percent with a band of plus/minus 2 percent around it.
3- The monetary policy decision should be vested in the hands of the Monetary Policy Committee (MPC) that will be headed by the Governor.
4- Not to detach Open Market Operations (OMOs) from the fiscal operations and instead linked solely to the liquidity management.
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