National Affairs

“No One Is Denying The Increase In Prices”: Finance Minister Nirmala Sitharaman In RS

Responding to the discussion held in the Rajya Sabha on Tuesday on the issue of inflation, Finance Minister Nirmala Sitharaman clarified the position regarding GST on packaged food. 

In the Upper House, Sitharaman said that in the meeting of the GST Council, all the states had agreed on 5 per cent GST on packaged food items and not a single person was against it. 

The Finance Minister said that no one is denying the increase in prices. She clarified that there is no GST on withdrawal of cash from banks.

Referring to the foreign loans sought by Sri Lanka, Bangladesh and Pakistan, she said that our microeconomic fundamentals are strong. 

“India’s economy is in a better position than other countries. The government is taking all possible measures at the ground level to deal with inflation” said Sitaraman. 

Replying to Samajwadi Party MP Ram Gopal Yadav, she said that due to the efforts made by the government and RBI, inflation is currently 7%. Despite this, we are not denying the issue of inflation.

She said that there was a time when we were repeatedly told that Bangladesh is doing well, you are not. Bangladesh’s per capita GDP on PPP (Gross Domestic Product per capita) in 2013 was US$ 3,143 while ours was US$ 5,057 in this period. 

“Bangladesh’s per capita GDP in 2021
was US$6,613 while ours was US$7,334′ Said Finance Minister. 

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