The common people in India are going to get relief from inflation in India soon. In fact, the government is sure that the prices of food items are going to come under control soon. In fact, recently government sources have expressed this confidence. Apart from this, sources say that there are many factors that are going to be helpful in reducing the prices of food items in the coming time. In fact, it is being said that the monsoon seems to be favourable and at the same time, the prices of crude oil prices and food items are going to decrease.
Apart from this, he said, ''Finance Ministry officials have recently held a meeting with the organizations of the edible oil sector. Indonesia is lifting the ban on the export of palm oil. Simultaneously, global edible oil prices are softening. There is still scope for further reduction in the prices of edible oils.'' Apart from this, he said that soon the rate of retail inflation is expected to come down to below 6 per cent. Let us tell you that during the month of May, the government increased the export duty on many steel products.
In fact, the decision of the government was to boost domestic production amid rising inflation. Now, sources said that despite repeated requests from the steel industry, the government is currently not considering reducing export duty on steel products. Amidst all this, a group of ministers is likely to submit its report soon and this report is on tax on online gaming.