Inflation Fell To A 3-Month Low, Rate Recorded Below 6 Percent
Inflation fell to a 3-month low, the rate recorded below 6 percent. Inflation hit in July, for two months, the inflation rate came down to below 6 percent.
This figure is going to feed the face of RBI because it had warned about inflation only.
In the data released on Thursday, the inflation rate based on the Consumer Price Index came down to 5.59 percent, which was 6.26 percent in June.
In this, the most important food inflation rate came down from 5.15 percent in June to 3.96 percent.
Inflation fell to a 3-month low: Inflation is expected to be 5.7 percent.
In its previous monetary policy, RBI has projected the inflation rate to be 5.7 percent for 2021-22.
In this, it is estimated to be 5.9 percent in the second quarter, 5.3 percent in the third and 5.8 percent in the fourth quarter.
The government will take all necessary steps to accelerate economic growth.
Meanwhile, Finance Minister Nirmala Sitharaman assured the industry that the government is ready to take all necessary steps to accelerate economic growth.
Signs of a boom in the economy.
Addressing the annual meeting of industry body CII, Sitharaman said that there are signs of a boom in the economy after the lifting of restrictions imposed to prevent the Kovid-19 epidemic.
Foreign Direct Investment (FDI) up 37 percent.
He said that so far in the current financial year, there has been an increase of 37 percent in Foreign Direct Investment (FDI). At the same time, foreign exchange reserves increased to $ 620 billion in July.
The government pushed for reforms.
The Finance Minister said that the Narendra Modi government is committed to reforms. Even during the pandemic, the government pushed for reforms.
Last year, the Center pushed for agricultural laws and labor reforms. He called upon the industry to come forward and increase investment in the economy.
Government committed to the recovery of the economy, timely payment of GST compensation to all states this year: Sitharaman.
Finance Minister Nirmala Sitharaman has said that the government is committed to the recovery of the economy and is ready to take all necessary steps in this direction.
She said that the economy seems to be getting stronger and the results of the steps taken by the government during the Corona period are also visible.
In an interaction with entrepreneurs at a program organized by the industry body CII.
The Finance Minister said that in the first five months of this year, there was an increase of 37 percent in Foreign Direct Investment (FDI).
At the end of July, the country’s foreign exchange reserves also crossed the record level of $ 620 billion.
