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Inflation at manageable level, says finance minister

Her comments came a day after RBI hiked interest rate by 50 basis points to tame inflation.

October 01, 2022 / 06:12 PM IST
Finance Minister NIrmala Sitharaman | Illustration: Moneycontrol

Finance Minister NIrmala Sitharaman | Illustration: Moneycontrol


Finance minister Nirmala Sitharaman on Saturday said inflation is at a manageable level.


Her comments came a day after RBI hiked interest rate by 50 basis points to tame inflation.


”Inflation is at a manageable level,” she said here. On Friday, RBI retained its inflation projection for FY23 at 6.7 per cent amid geopolitical concerns triggered by Russia-Ukraine war, and expected inflation to be under control from January.


The central bank is mandated to keep retail inflation in a band of 2-6 per cent. Inflation has remained above RBI’s upper tolerance level of 6 per cent since January 2022.


Last month, inflation touched 7 per cent. Last month, inflation touched 7 per cent.

Speaking at the annual day function of regulator IBBI, Sitharaman, who is also the corporate affairs minister, said, ”We are in an era of robust economic activities”.

PTI
first published: Oct 1, 2022 06:12 pm