Inflation at manageable level, says finance minister

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”.