Centre will not let guard down on inflation: FM Nirmala Sitharaman in Mumbai
Union Finance Minister Nirmala Sitharaman said the Central government is monitoring price pressures and inflation, and denied a link with the Reserve Bank of India's decision to withdraw ?2000 notes. She also spoke about measures to control the cost side of farming and highlighted the achievements of the Modi-led government in the last nine years.
The Central government is monitoring price pressures and will not let the guard down on inflation, Union finance minister Nirmala Sitharaman said on Monday.
On the decision to withdraw of ₹2000 notes, Sitharaman refused to link it with the Central government, saying the Reserve Bank of India (RBI) takes the decision about currency.
The FM was speaking at a press conference in Mumbai to mark nine years of Prime Minister Narendra Modi-led government on Monday.
Maharashtra deputy chief minister Devendra Fadnavis, Bharatiya Janata Party national general secretary Vinod Tawade, and state president Chandrashekhar Bawankule were present at the event.
“Retail inflation has come down to 4.8% and the gross inflation is close to negative. We are continuously monitoring inflation. We are monitoring the prices of food grains, vegetables, fruits etc., from different local markets all over India. Wherever there is the need to intervene, the government is taking steps to bring down the prices of particular commodities,” she said.
“Former finance minister (Union) P. Chidambaram knows well that the RBI decides the currency. Currency is the sovereign business and RBI takes the decision. Besides that, the life span of currency was also over.” Sitharaman said when asked about Opposition leaders’ criticism of the Modi government.
When asked about the promise made by PM Modi to double the farmers’ income by 2022, Sitharaman said that the Centre has given various reliefs to ensure controlling the cost side of farming.
“We are giving Rs.6,000 per annum to the farmers. Government has ensured that there will be no price hike in fertilisers-seeds etc to control the cost side of farming,” she said.
Due to the efforts and policy of the Modi government, Indian farmers are producing and exporting various farm products such as rice, vegetables, fruits, etc., which earns them more profit, added Sitharaman.
The FM also highlighted the achievements of PM Modi-led Central government in the last nine years and said the nine years of the Modi government are the nine years of ‘Seva, Sushan and Garib Kalyan’ (Service, Good governance and the welfare of the poor).
She said that of the nine years, India lost three years to Covid and other issues and the Centre only got six years to work fully.
Sitharaman emphasised that people trust PM Modi for the development.