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?

1. Monetary Policy refers to the actions undertaken by a central bank (like the Reserve Bank of India) to manipulate the money supply and credit conditions to stimulate or restrain economic activity, primarily aiming at price stability and growth. 2. Statement 1: Bank rate is the rate at which the central bank lends money to commercial banks (usually long-term). It is a traditional instrument of Monetary Policy used to influence overall interest rates and credit availability. Hence, 1 is a component. 3. Statement 2: Open market operations (OMO) involve the buying and selling of government securities by the central bank in the open market to inject or absorb liquidity from the banking system. This is a key and widely used instrument of Monetary Policy. Hence, 2 is a component. 4. Statement 3: Public debt refers to the total amount borrowed by the government. Managing public debt is part of Fiscal Policy and Debt Management Policy, not directly Monetary Policy, although monetary policy decisions can affect the cost of government borrowing. 5. Statement 4: Public revenue refers to the income of the government (through taxes, non-tax sources). It is a core component of Fiscal Policy, which deals with government spending and taxation, not Monetary Policy. 6. Therefore, only Bank rate (1) and Open market operations (2) are components of Monetary Policy among the given options.