Finance Minister Nirmala Sitharaman on Tuesday said the government has adopted a targeted approach, based on ground-level inputs, to tackle retail inflation which is ruling at around 7 per cent.
The minister was replying to a short-duration debate on price rise in the Rajya Sabha.
Sitharaman stressed that the fundamentals of the Indian economy are strong.
Indian economy compared to the situation prevailing in peer-group nations and even developed countries is definitely "much better", she said.
However, the minister also acknowledged that global factors are impacting the economy, and said "these are realities".
The finance minister said that both the government and the Reserve Bank are taking steps to bring down inflation below 7 per cent and further under 6 per cent.
The government has tasked the RBI to ensure that the consumer price index (CPI) based inflation remains at 4 per cent with a margin of 2 per cent on either side.
Sitharaman also countered opposition charges that the central government was only working for Ambanis and Adanis, and not the poor.
Such arguments, she said only politicise an important debate like the one on price rise.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.