New Delhi: Union Minister for Information and Broadcasting Anurag Thakur on Wednesday said that India was doing better than other countries in terms of inflation as those countries who never had inflation for the last 30-40 years are now facing the problem of price rise, reported news agency ANI.
“If you compare it to the rest of the world, inflation is high in countries where there was no inflation for 30-40 years. Compared to them, India is doing very well. The world has acknowledged it,” he said, quoted by the news agency.
He also lauded the Centre saying that government procurement from farmers has increased more than double and that farmer’s income has also increased.
He added that production in the country has increased and Minimum Support Price has also been hiked but the inflation is under control.
“Our farmers left no stone unturned even during Covid, compared to 2014 government procurement is more than double. We procured more and farmers' income was higher. This government has done it all. Production rose, MSPs hiked but compared globally,inflation kept under control,” the Union Minister said.
On Monday, the Reserve Bank of India expressed its optimism that the headline inflation is set to ease from its September high, albeit stubbornly, on the back of easing momentum and favourable base effects, reported news agency IANS.
The observations have been made in the central bank's monthly bulletin for the month of October.
Commenting on the global scenario, it noted that "aggressive and synchronised monetary tightening has further weakened global economic prospects as financial markets sold off, investors took fright and jettisoned risky assets".
(With inputs from IANS)