- In the biggest change to its monetary policy since opening up its economy more than two decades ago, India's central bank and finance ministry have agreed to introduce inflation targeting to rein in a long history of volatile price rises.
- The 4% inflation target for the 2016/17 fiscal year will be symmetrical, seeking to keep consumer price growth within two percentage points on either side of the central target.
- ETFs: EPI, INDY, SCIF, PIN, INDL, INP, INXX, INDA, SCIN, SMIN, INCO
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