FM Sitharaman said she will be meeting heads of public sector banks on 19 September (Photo: Ramesh Pathania/Mint)
FM Sitharaman said she will be meeting heads of public sector banks on 19 September (Photo: Ramesh Pathania/Mint)

Inflation under control, clear signs of revival in factory output: FM Sitharaman

  • Finance Minister Nirmala Sitharaman said inflation is under control and there is a clear sign of revival of industrial production
  • Sitharaman said the steps announced to increase credit flow to NBFCs, including the partial credit guarantee scheme, has started showing results

New Delhi: Finance Minister Nirmala Sitharaman on Saturday said inflation is under control and there is a clear sign of revival of industrial production.

Addressing the third press conference to announce measures to boost economy, the minister said inflation has been kept "very much" below 4%.

The government has mandated the Reserve Bank of India (RBI) to keep the retail inflation in the band of 2-6%. The latest inflation print based on Consumer Price Index was 3.21% in August.

Watch | Inflation under control, clear sign of revival of industrial production: Sitharaman

Sitharaman further said that inspite of all worries on industrial production front in the fourth quarter of 2018-19, "we see clear signs" of improvement up to July 2019.

The minister further said the steps announced to increase credit flow to NBFCs, including the partial credit guarantee scheme, has started showing results.

"Several NBFCs have benefited," the minister said.

Sitharaman also informed that she will be meeting heads of public sector banks on 19 September, a day before the GST Council meeting in Goa, to access the credit flow scenario to the economy.

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