# The Finance Act, 2016, Section 220: Amendment of Preamble

- Act: The Finance Act, 2016
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2016/section/220/

## Text

Amendment of Preamble 220. In the Reserve Bank of India Act,1934 (herein referred to as the principal Act), in the Preamble, for paragraphs 2 and 3, the following paragraphs shall be substituted, namely:— "And WHEREAS it is essential to have a modern monetary policy framework to meet the challenge of an increasingly complex economy; And WHEREAS the primary objective of the monetary policy is to maintain price stability while keeping in mind the objective of growth; And WHEREAS the monetary policy framework in India shall be operated by the Reserve Bank of India;".

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