Wednesday, December 7, 2022

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Inflation in India is at manageable level, says Sitharaman

New Delhi: Inflation is at a manageable level, according to finance minister Nirmala Sitharaman on Saturday. A day after the RBI raised interest rates by 50 basis points to control inflation, she made her remarks.

“Inflation is at a manageable level,” she said here.

In spite of geopolitical worries brought on by the Russia-Ukraine war, the RBI kept its inflation forecast for FY23 at 6.7% on Friday and predicted that inflation would start to decline in January.

The goal of the central bank’s mandate is to control retail inflation within a range of 2 to 6%. Since January 2022, inflation has been above the RBI’s 6% upper tolerance range.

The rate of inflation last month reached 7%.

We live in a time of solid economic activity, Ms. Sitharaman, the corporate affairs minister, said while speaking at the annual day event of the regulator IBBI.

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