With reference to Indian economy, consider the following: 1. Bank rate 2. Open market operations 3. Public debt 4. Public revenue Which of the above is/are component/components of Monetary Policy?

Monetary Policy refers to the actions undertaken by the central bank (Reserve Bank of India in India) to influence the availability and cost of money and credit in an economy to achieve certain economic objectives like price stability, growth, etc. Its key components include: 1. Bank Rate: This is the rate at which the RBI lends money to commercial banks without any security. It is a quantitative tool of monetary policy. 2. Open Market Operations (OMOs): These involve the buying and selling of government securities by the RBI in the open market to control the money supply. This is also a quantitative tool of monetary policy. Public debt (3) and Public revenue (4) are components of Fiscal Policy, which is concerned with government spending and taxation to influence the economy. Fiscal policy is managed by the government (Ministry of Finance), not the central bank (RBI). Therefore, Bank Rate and Open Market Operations are components of Monetary Policy.