In a written reply to Lok SabhaSitharaman said India’s retail inflation has declined from an average of 7.1% in April-October 2022 to 5.4% in the same period in 2023.
“Retail inflation is now stable and within the notified tolerance band of 2% to 6%. The sustained decline in estimated core inflation, after removing volatile food and fuel items from retail inflation, has been important in weakening Indian inflation pressures. Economy,” she said.
The core inflation rate has declined from 5.1% in April 2023 to 4.3% in October 2023. The minister said retail inflation in India has mostly been within acceptable limits after the notification of inflation tolerance bands in 2016. Some opportunities arise due to demand-supply mismatch arising from global shocks and adverse weather conditions,” Sitharaman said.
Active supply-side initiatives by the Government and effective demand stabilization measures by the Reserve Bank of India He said this has helped in resolving demand-supply mismatches and curbing inflation.
Steps taken by the government to control inflation include strengthening the buffer for key food items, periodic open market releases, easing imports of essential food items through trade policy measures and imposing stock limits. /Amendment to include preventing hoarding and diverting supplies through specified channels. Retail Outlet. To ensure food security for the poor, the Pradhan Mantri Garib Kalyan Anna Yojana, which provides free food grains to about 81.4 crore beneficiaries, has been extended for five years. agencies