Government keeping eye on inflation: Nirmala Sitharaman in Rajya Sabha
The Hindu
Replying to the debat on the Supplementary Demands for Grants in the Rajya Sabha, the Minister said wholesale inflation has fallen to a 21-month low.
Finance Minister Nirmala Sitharaman on December 21 said the government is keeping an eye on inflation which is purely "extraneous" nowadays because of the fuel and fertilizer prices.
Replying to the debat on the Supplementary Demands for Grants in the Rajya Sabha, the Minister said wholesale inflation has fallen to a 21-month low.
What is the target level of inflation?
Later, the Rajya Sabha returned the Supplementary Demands for Grants to the Lok Sabha, thus completing the process of authorising the government to spend an additional ₹3.25 lakh crore in FY2022-23.
Retail inflation based on consumer price index which remained above the Reserve Bank's tolerance level of 6% since January this year has declined to 5.88% in November.
The Minister also said private investment capex is taking place in India because of favourable policies such as PLI and cited few examples. Ms. Sitharaman also stressed that the supplementary demand for grants is essentially for food security, fertilizer requirements and providing support to the Indian economy.
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