Indian Retail Inflation: On Tuesday, December 12, 2023, the Statistics Ministry will release retail inflation data for the month of November. Earlier, Finance Minister Nirmala Sitharaman had said in the Lok Sabha that the retail inflation rate has now become stable and it is within the notified tolerance band between 2 to 6 percent. The Finance Minister said that after removing volatile food items and fuel items from retail inflation, there has been a decline in core inflation, which has helped in reducing the inflationary pressure in the country. Core inflation was 5.1 percent in April 2023, which has helped in reducing it to 4.3 percent in October 2023.
During the Question Hour in the Lok Sabha, the Finance Minister was asked a question about the sharp rise in retail inflation. . The Finance Minister was also asked whether the government has found out the reasons for increasing inflation and also what steps the government has taken to reduce retail inflation. Answering this question, the Finance Minister said, due to demand-supply mismatch arising due to global shocks and bad weather, an increase in inflation is seen on some occasions.
The Finance Minister said. That the steps taken by the government to improve the supply and the measures taken by the RBI to stabilize the demand have helped in removing the demand-supply problems, thereby keeping a check on inflation. < /p>
The Finance Minister told the House that to control inflation, the government has strengthened the buffer stock of food items and released it in the open market from time to time. He informed that the stock limit has been reviewed to simplify the import of food items and prevent hoarding. The Finance Minister said that to ensure food security for the poor, the Prime Minister Under the Garib Kalyan Anna Yojana, it has been decided to provide free food grains to 81.35 crore beneficiaries for five years from January 1, 2024. Also, under the Pradhan Mantri Ujjwala Yojana, the amount of subsidy on LPG cylinder has been increased from Rs 200 to Rs 300.
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