Inflation finds mention in Prez Murmu’s address to nation
By Our Special Correspondent
New Delhi, August 14: On a day the consumer price index (CPI) came at 7.44 per cent for the month of July, President Droupadi Murmu in her address to the nation on the eve of the 77th Independence Day noted that “inflation at the global level remains a cause for worry”. She also underlined that the global economy is passing through a delicate stage.
“The world economy is passing through a delicate stage, as the pandemic has been followed by international events that have added to the air of uncertainty. Yet, the Government has been able to navigate the stormy waters very well,” said President Murmu.
The mention of inflation in President’s address to the nation is significant as the retail prices of the consumer goods as well as foot items are now heating up in the country. With inflation once more rearing its heads and the Reserve Bank of India in its recent commentary striking hawkish stance, hopes for lowering of the interest rates in the near future have dimmed.
“India has converted challenges into opportunities and has recorded high GDP growth. Our Annadata farmers have contributed significantly to our economic growth. Inflation at the global level remains a cause for worry. But in India the Government and the Reserve Bank have managed to contain it,” added President Murmu.
She also underlined that the “government has succeeded in protecting the common people from high inflation while also providing a more extensive security cover to the poor”. “The world looks up to India for global economic growth,” added President Murmu.
She further argued that the continued economic progress is driven by a two-pronged strategy. “On the one hand, there is a sustained push to unleash the forces of enterprise by making it easier to do business and generate job opportunities. On the other, proactive and expanded welfare initiatives for the needy have been taken in various domains,” said President Murmu.
Reiterating the claims made by Prime Minister Narendra Modi in his reply to the debate on the no confidence motion that his government lifted several millions out of extreme poverty, President Murmu said: “Giving priority to the deprived remains the focus of our policies and actions that have lifted a large number of people out of poverty in the last decade.”
She also stressed that there are specific programmes to improve the conditions of tribals and encourage them to join the journey of progress. “I appeal to our tribal brothers and sisters to enrich their traditions while embracing modernity,” added President Murmu.
She noted that “along with economic growth, human-development-concerns have also been accorded high priority”. The RBI recently said that inflation may remain firm in the near future because of the rising food prices.
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