Business
Inflation Has Eased To Manageable Level; Job Creation, Growth Remain Priorities: FM Sitharaman
PTI
Sep 07, 2022, 12:21 PM | Updated 12:22 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
New Delhi, Sep 7 (PTI) Finance Minister Nirmala Sitharaman on Wednesday said the country's economic growth remains a priority for the government, as inflation has come down to a manageable level.
Job creation and equitable distribution of wealth remain the other focus areas, she said at India Ideas Summit here.
'Some of course are red-lettered (priorities), some may not be. Red-lettered ones would of course be jobs, equitable wealth distribution and making sure India is moving on the path of growth.
'In that sense inflation is not red-lettered. I hope it doesn’t surprise many of you. We have shown that in the past couple of months that we were able to bring it to a manageable level,' she said at the event.
According to official data, retail inflation softened to 6.71 per cent in July due to moderation in food prices but remained above the Reserve Bank's comfort level of 6 per cent for the seventh consecutive month.
The Consumer Price Index (CPI) based retail inflation was at 7.01 per cent in June and 5.59 per cent in July 2021. It was above 7 per cent from April to June this fiscal.
She exuded confidence that the Reserve Bank would manage the volatility emerging from aggressive rate hike stance by the US Fed and the European Central Bank.
Talking about fiscal management during the COVID-19 period, she said, India with a targeted fiscal policy managed through a challenging time without printing money.
Referring to the global energy crisis triggered by the ongoing Russia-Ukraine war, she said, uncertainty over availability of crude, natural gas continues.
She also urged for deepening of ties between India and the US in all respects including on payment technology.
(This story has been published from a wire agency feed without any modifications to the text. Only the headline has been changed.)
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.