Would love to see inflation rate at 7.4% now: Nirmala Sitharaman
Nirmala Sitharaman: Finance Minister Nirmala Sitharaman The said inflation rate, which is over 7 per cent in India, is currently at a manageable level compared to some other countries. Taking a dig at critics’ estimates, he said the government was working to bring it down from 6 per cent and wanted to bring it down to 4 per cent.
Indian economy in good shape
Sitharaman said that at present the fundamentals of the Indian economy are in good shape. She said, I am not asking for celebrations, but it is true that we are doing well.
Addressing a press conference on Friday at the end of his visit to the annual meetings of the World Bank Group, the Finance Minister also gave a comprehensive overview of India’s priorities for the upcoming year-long presidency of the G20 grouping countries, including Bilateral banks, focus on climate finance and cryptocurrencies, etc.
Sitharaman said this for the first time
Sitharaman first spoke of inflation being at manageable levels earlier this month. He spoke in more detail at the news briefing. On the fundamentals of the economy, she said, “We are in a better position, so I keep repeating that inflation is also at a manageable level.”
Inflation hit 7.4 per cent in September. “I would like to bring it down further than 6 and we are working towards that,” she said. He pointed to the situation in other countries, particularly Turkey, where the annual inflation rate was 80 percent in August.
Sitharaman said possibly due to rising energy prices, countries are being affected very seriously due to external factors. We are also being affected. But due to various measures we have been able to bring it to this level.
Finance Minister gave this information during G-20
The Finance Minister also addressed the challenges faced by India during the G20 and pointed to the failure of the grouping with a joint communiqué during the World Bank meetings. He said 2022 was a contentious year for the grouping and that India would address those and other challenges together with the members.
The minister also defended the actions of the Enforcement Directorate and Income Tax Departments against civil rights bodies and activities. In response to a question, she said, “I don’t want to comment on individual cases or point of view, but there are certainly examples which are different. If the agency goes there, they have some prima facie evidence in their hands and some of them have been covered by the media itself that the amount of money collected, precious jewellery, gold has been seized, so these need to be acted upon.
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