Arrange the following milestones in India's inflation measurement and monetary framework in chronological order (from earliest to latest):\n1. Introduction of the CPI (Rural, Urban, Combined) series with base year 2010.\n2. Recommendation of the Urjit Patel Committee to adopt CPI (Combined) as the nominal anchor for monetary policy.\n3. Formal establishment of the statutory Monetary Policy Committee (MPC) with a mandate for inflation targeting.\n4. Revision of the Wholesale Price Index (WPI) base year to 2011-12.\nSelect the correct answer using the codes given below:

Options:

  • A: 1-2-4-3
  • B: 1-2-3-4
  • C: 2-1-3-4
  • D: 2-1-4-3

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