The correct answer is price stability.The primary objective of monetary policy is to maintain price stability while keeping in mind the objective of growth. Price stability is a necessary precondition to sustainable growth.RBI Act, 1934 was amended in May 2016 to provide a statutory basis for the implementation of the flexible inflation-targeting framework.Inflation-Targeting means to control price or to maintain price stability. Inflation target to be set by the Government of India, in consultation with the RBI, once in every five years.The inflation target of monetary policy is 4% Consumer Price Index with an upper tolerance limit 6% and lower tolerance limit of 2%.