Centre and RBI will take necessary efforts to control inflation: FM

New Delhi, Feb 20 (KNN) Union Finance Minister Nirmala Sitharaman said on Monday as retail prices have again risen above comfort levels the Indian government and the RBI are taking steps to control inflation.

Speaking at a post-budget industry interaction in Jaipur, she said the government has increased the import of edible oil as required to rein in inflation and provided free grains to the poor since the COVID-19 pandemic, and would "continuosly monitor prices”.

Last week, India's annual retail inflation rate rose above the central bank’s upper tolerance band for the first time in three months to 6.52 per cent in January, as prices rose for food products such as cereals and wheat.

The RBI will take necessary steps to manage inflation within "expected limits," said the FM, who was accompanied by other finance ministry officials including the chief economic adviser.

Economists have said the soaring prices of cereals such as wheat and rice were a concern for the Indian economy even though the January inflation data may have overstated the extent of the increase.  (KNN Bureau)