Nirmala Sitharaman On Inflation: Finance Minister Nirmala Sitharaman has assured that the government will provide relief to the common people from skyrocketing inflation. The Finance Minister said that the government is constantly monitoring the prices of essential commodities and will make every effort to bring down inflation. He said that the government is constantly monitoring inflation and has taken several steps to bring it down.
Government will reduce inflation!
Responding to the discussion on the bill related to the demand for grants in the Lok Sabha, the Finance Minister said about the government’s efforts to reduce inflation that the Inter-Ministerial Committee discusses the buffer stock and prices of pulses every week. Import duty on lentils has been reduced to zero. He said that the government has also cut excise duty on petrol by Rs 8 and on diesel by Rs 6 per litre. Due to these steps, the latest retail inflation rate has come within the tolerance level of RBI. He said that the retail inflation rate has been 5.88 percent in November, as well as the wholesale inflation rate has also come down to the lowest level of 21 months.
Rupee is the strongest currency
The Finance Minister has once again given a statement regarding the weakness of the rupee against the dollar. The Finance Minister said that the Indian currency is the strongest compared to the rest of the world’s currency. He said that the Indian currency has performed better than the currency of other emerging countries of the world against the dollar.
Cleanliness on NPA of banks
The Finance Minister has also clarified in the House on the NPAs of the banks. He said that due to the efforts of the government, the gross NPA of banks has come down to 7.28 per cent by March 2022. The Finance Minister told the House that out of the target of Rs 7.5 lakh crore capital expenditure in 2022-23, 54 per cent has been utilised. The Finance Minister said that in the current financial year 2022-23, it will definitely achieve the target of 6.4 percent of the daily fiscal deficit.