'Inflation at a manageable level', says finance minister Nirmala Sitharaman

NEW DELHI: Finance minister Nirmala Sitharaman on Saturday said inflation is at a manageable level.

Her comments came a day after RBI hiked its 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 the 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.

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".

Watch Live: Smt @nsitharaman's address at the Sixth Annual Day celebrations of Insolvency and Bankruptcy Board of India (@IBBIlive) in New Delhi. @PIB_India@FinMinIndiahttps://t.co/DF5AW1PKQ4

— NSitharamanOffice (@nsitharamanoffc) October 1, 2022

NEW DELHI: Finance minister Nirmala Sitharaman on Saturday said inflation is at a manageable level. Her comments came a day after RBI hiked its 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 the Russia-Ukraine war and expected inflation to be under control from January. ALSO READ | Nirmala Sitharaman pats Karnataka for encouraging Sanskrit 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. ALSO READ | Showcase brands at G-20 in India, FM Nirmala Sitharaman to Karnataka 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". Watch Live: Smt @nsitharaman's address at the Sixth Annual Day celebrations of Insolvency and Bankruptcy Board of India (@IBBIlive) in New Delhi. @PIB_India@FinMinIndiahttps://t.co/DF5AW1PKQ4 — NSitharamanOffice (@nsitharamanoffc) October 1, 2022