Finance Minister Jaitley Says Food Inflation Under Control, Promises Reform

Finance Minister Jaitley Says Food Inflation Under Control, Promises Reform

New Delhi: Finance Minister Arun Jaitley remarked in a conference on Tuesday, that “The government of India has brought inflation under control and is committed to food market reform to achieve low and stable price rises”. The data showed that wholesale inflation dropped to a near five-year low.

Reports say, that Wholesale prices rose 2.38 per cent on year in September, their slowest pace since October 2009, as food inflation dropped to a near three-year low.
Tuesday’s data came a day after consumer price inflation, which the central bank tracks to set policy lending rates, dropped sharply to 6.46 per cent in September, the lowest since the latest data series started in January 2012.

Mr Jaitley said a new monetary policy framework and fiscal consolidation will also help bring down inflationary expectations. No matter after the wonderful success of PM Jan Dhan Yojna, the GoI is all set to pool the deposits of the people in more profitable ventures, thereby likely to improve the economic conditions of the country in its best possible way.

-Meesha Sharma