RBI Steps to Control Inflation: In the last few days, inflation rate has increased very rapidly in the whole world including India. In such a situation, the government and the Reserve Bank of India are continuously taking big steps to control inflation in the country.
Talking to news agency ANI, Sanjeev Sanyal, a member of the Prime Minister’s Economic Advisory Council, said that the Monetary Policy Committee of the Reserve Bank is trying its best to keep the country’s inflation rate under control. It is worth noting that at present the retail inflation rate in the country is 7%, which the government is trying to reduce further.
India’s position is much better than many developed countries
Talking about India’s inflation rate, Sanjeev Sanyal said that the country’s retail inflation rate is currently 7% which is much better than many developed countries. Inflation in America, Britain and many countries of Europe has broken the records of the last several years. In the UK, the inflation rate is currently between 18% and 20%. Whereas in countries like Turkey, it has reached 60% to 70%. In such a situation, the condition of India is much better than many developed and developing countries. Along with this, he said that the Finance Ministry has done a very good job in keeping the inflation rate of the country low as compared to the rest of the countries.
Government is constantly taking necessary steps
Sanjeev Sanyal said that both the Reserve Bank and the Finance Ministry are very serious to control the inflation rate in the country. He said that recently the Central Government had reduced the excise duty on petrol and diesel to reduce the price of fuel and energy in the country. This has reduced the cost of transportation.
Sanjeev Sanyal further said that the Monetary Review Committee of the Reserve Bank will take further steps only after seeing the inflation data of the country from time to time.
Finance Minister had said this thing
Earlier, Finance Minister Nirmala Sitharaman had said that controlling inflation cannot be left to monetary policy alone. For this, the central government and the RBI will have to work together. Along with this, the role of the state governments was also said to be important. The Finance Minister had said that the responsibility of bringing down inflation is not only of the Central Government. He said that the state government should also play its role in bringing down inflation.
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