Inflation controlled, clear signs of improvement in industrial production: Nirmala Sitharaman

Nirmala Sitharaman

Nirmala Sitharaman

New Delhi: Finance Minister Nirmala Sitharaman said on Saturday that inflation is under control and there are clear signs of improvement in industrial production. She said that the flow of FDI (Foreign Direct Investment) in the country is tremendous and the foreign capital reserves have increased.

Announcing the third installment of relief for the economy, she said in a press conference that inflation is well below the target of four percent. The government has given the Reserve Bank a target to keep retail inflation below four percent. Although retail inflation rose slightly to 3.21 percent in August, it is now within the prescribed range. Sitharaman said that despite all the concerns related to industrial production in the fourth quarter of 2018-19, till July 2019 we see clear signs of improvement. she said that the results of the announcement of steps to improve the flow of credit to non-banking financial companies (NBFCs), including the Partial Credit Guarantee Scheme, have started showing results.

Finance Minister to meet heads of public banks on September 19
she said that many NBFCs have benefited. She said that on September 19, a day before the GST Council meeting in Goa, she will meet the heads of public banks to review the credit flow in the economy.

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