India to bring down retail inflation below 7 percent |
Indian Finance Minister Nirmala Sitharaman told the lower house of Indian Parliament, Lok Sabha, on August 1st that India is still the fastest growing economy whose financial position is much better than most other countries. Speaking during a debate on the issue of price hikes in the Lok Sabha, Sitharaman said the global agencies have ranked India`s economy higher than most countries, and there is no sign of recession in the country. She compared India with neighboring countries such as China, Sri Lanka, Pakistan, and Bangladesh as well as the US and European countries. The Indian Finance Minister said that based on various parameters and data, India is in a much better state than most other countries at the global level. Sitharaman added that the government is making efforts to bring down retail inflation below 7 percent. Talking about domestic commodities, she underlined that price of edible oil had fallen sharply following the steps taken by the government.
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