Direction for the following 4 (four) items: Read the following four passages and answer the items (51-54) that follow. Your answers to these items should be based on the passages only.

In India, the objective of macroeconomic policy is to enhance the economic welfare of the people, and any one wing of such macro policy, monetary or fiscal, cannot independently work without active support of another.

Which one of the following statements best reflects the corollary to the passage given above?

The correct option is: The central bank cannot work independently of the Government.

Step-by-Step Explanation:

1. Analyzing the Passage:
The passage states two main points:
- The objective of macroeconomic policy in India is to enhance the economic welfare of the people.
- Neither monetary policy nor fiscal policy can independently work without the active support of the other.

2. Understanding Key Concepts:
- Monetary Policy: Typically managed and executed by the central bank (in India, the Reserve Bank of India - RBI).
- Fiscal Policy: Formulated and executed by the government through public spending and taxation.

3. Deriving the Corollary:
A corollary is a direct inference or natural consequence of a proposition. Since monetary policy (handled by the central bank) and fiscal policy (handled by the government) must work in coordination and active support of each other, it logically follows that the central bank cannot function in complete isolation or independently from the government when pursuing macroeconomic goals.

Thus, the statement that best reflects the corollary to the passage is "The central bank cannot work independently of the Government."