New Delhi: The debate about recession is hot in the country these days. Industries have come to a standstill due to sluggishness. Due to this jobs are being lost. The opposition is an attacker on these issues. Yesterday i.e. Saturday, Finance Minister Nirmala Sitharaman once again appeared in front of the media with some announcements. Like his last time, she also announced many reliefs this time. The Finance Minister said that there is an improvement in industrial production and steady investment in the country.
She said that steps are being taken to improve the flow of credit from banks. Sitharaman said that banks have started giving benefits of policy rate cuts to customers. It is known that Sitharaman will meet with the heads of public banks on September 19 to review. The Reserve Bank has cut the repo rate by 1.10 percent since February. Se said that inflation is under control and industrial production is showing improvement. She said that inflation is below the target of 4 percent.
The government has given the Reserve Bank a target to keep retail inflation below four percent. Although retail inflation rose slightly to 3.21 percent in August, but it is now within the prescribed range. The Finance Minister said that despite all the concerns related to industrial production in the fourth quarter of 2018-19, till July 2019 we see clear signs of improvement. She said that the results of the announcement of steps to improve the flow of credit to non-banking financial companies (NBFCs), including the Partial Credit Guarantee Scheme, have started showing results.
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