The relative emphasis between the objectives depends on the underlying economic conditions and is spelt out from time to time. Compared to many other developing economies, India has been able to maintain a moderate level of inflation.
Also, there may be many sources of uncertainty that cloud the future inflationary picture and disconnect it from current inflation – the strength and distribution of the monsoon, the extent and persistence of low commodity prices, the effect of external disturbances on the exchange rate, etc.