Retail Inflation at 5.4% in Fiscal Year 2024, Lowest Since Pandemic, Says Economic Survey 2023-24
New Delhi, July 22: Timely policy interventions by the government and the Reserve Bank of India’s (RBI) price stability measures helped retail inflation stand at 5.4 per cent — the lowest since the pandemic, the Economic Survey 2023-2024 said on Monday. During FY22 and FY23, the Covid-19 pandemic, geopolitical tensions, and supply disruptions contributed to rising inflationary pressures globally.
According to the Economic Survey, consumer goods and services faced price hikes in India due to international conflicts and adverse weather conditions impacting food costs. Economic Survey 2023-24 Tabled by Finance Minister Nirmala Sitharaman in Lok Sabha.
“However, in FY24, the Central government’s timely policy interventions and the Reserve Bank of India’s price stability measures helped maintain retail inflation at 5.4 per cent — the lowest level since the pandemic,” said the Economic Survey tabled in the Parliament by Union Finance Minister Nirmala Sitharaman.
The survey says that the headline inflation rate is largely under control, although the inflation rate of some specific food items is elevated. Budget Session 2024: Economic Survey 2023-24 To Be Presented in Both Houses of Parliament Today Ahead of Union Budget.
The survey presented by Finance Minister Nirmala Sitharaman and prepared by the Economic Division under the Ministry of Finance provides a detailed analysis of the economic performance for the fiscal year 2023-24. The government expects the economy to grow between 6.5 and 7 per cent in FY 25.
(The above story first appeared on Today News 24 on Jul 22, 2024 01:25 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
