Paper Title
EFFECTIVENESS OF MONETARY POLICY ON PRICE STABILITY: AN INDIAN PERSPECTIVE

Abstract
Abstract - Economic development in the contemporary framework is accompanied by the fallout of thebusiness cycles, and in the quest to neutralize the adverse effect of it, the central bank maneuversa change in monetary policy. The effectiveness of the monetary policy is gauged by its impact on controlling the adverse effect of the prevalent business cycles in the development process. This empirical study aims to investigate the effectiveness of the monetary policy in stabilizing prices in the Indian economy in influencing inflation dynamics as a critical aspect of macroeconomic management by including the quantitative form of the Philips curve in the study. This researchintendstoutilizetheeconometrictoolofmultipleregressionto examine the empirical relationship between monetary policy andinflation.Thestudyalsousesutilityanalysistogaugetheimpactofrising prices on an individual. Studying the magnitude of inflation's response to changes in monetary policy is crucial for policymakers and central banks to make informed decisions andmaintainpricestability. Keywords - Monetary policy, inflation, central bank, price stability, Philip curve