The document discusses monetary policy in India. It begins by defining monetary policy as the government's policy to control the quantity, cost, and use of money in the country. It notes that the first monetary policy committee in India was established in 1982 under Professor Sukhamoy Chakraborty to promote price stability and economic growth. The major tools of India's monetary policy are described as quantitative tools that impact the economy, qualitative tools related to specific sectors, and other methods like the bank rate, repo rate, reverse repo rate, and marginal standing facility rate which the Reserve Bank of India uses to control money supply and inflation.