The way in which inflation has come down should sustain and it’s not momentary or a one-month affair, said union finance minister Nirmala Sitharaman on Friday in an exclusive interview with Rahul Joshi, Group Editor-in-Chief, Network18.
“Post-Omicron when we were coming back…the 2022 festival season was in its normal course," said Sitharaman in her first post-Budget interview with a private news network. “Now it (fall in inflation) will sustain itself."
The twin deficit problems are not as severe as before, she said.
Demand does not remain stable; it goes up and down, said the finance minister.
“Rural demand today, even in farm equipment manufacturing, is robust. Rural demand on FMCG (fast-moving consumer goods) items…GST revenues mirror strong demand," she said. It shows that both rural and urban markets are related and dependent, the minister added.
While presenting the Union Budget 2023-24 on February 1, the finance minister said that inflation has come down due to steps taken by the government.
“You have seen inflation come down, both the CPI and WPI. Action has been taken by the government, we take inflation-related steps when things develop on the ground and in response to it and that has borne results," she said.
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