Monday, May 16, 2022

FM Nirmala Sitharaman says country’s inflation rate stands at 6.2% despite Covid-19 pandemic

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FM Nirmala Sitharaman countered opposition’s allegations over the inflation while replying to discussion on the Union Budget 2022-23 in the Rajya Sabha today.

Referring to the global financial crisis in 2008-09, she said, the Indian economy witnessed a contraction of 2.12 lakh crore rupees during that time, whereas the country witnessed contraction of 9.57 lakh crore rupees during the Covid-19 pandemic.

She said, despite the huge contraction in the economy during the pandemic, the country’s CPI inflation is at 6.2 per cent whereas it was 9.1 percent in 2008-09.

The Minister said, Union Budget 2022-23 talks about the stability and creating modern infrastructure in the upcoming 25 years. She said, if the country does not have a vision for the next 25 years, it will suffer like in the past 70 years.

She said the Budget will bring continuity and stability in the economy. She stressed that stability will ensure growth of the economy.

Talking about the various initiatives of the government, she said, PM Gatishakti is guiding the government to create modern infrastructure across the country.

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