The Silicon Review ^Asia

Nirmala Sitharaman, the Finance Minister of India in a recent interview said that the inflation which was recently introduced on banks and industries is under control and will help to produce larger outputs and also will help the revival of industrial production. She also stated that, this measure will boost the Indian economy.

The government mandated the Reserve Bank of India should keep the retail inflation in the band range of 2 to 6%. According to the recent reports, the latest print-based expansion on Consumer Price Index is 3.21%, which shows a clear improvement in the index price. This shows a clear sign of improvement in the industrial and banking sector.

The minister further said that the measures taken to bring about inflation will increase the credit flow to Non-banking Financial Companies (NBFCs) which also includes the partial credit guarantee scheme. This will increase transparency in both business and the public sector. The other PSUs will also be merged with RBI to ensure the customers will be directly benefited by this scheme.

This move by the Finance Ministry is welcomed all over the nation. This will increase the transparency rate in both banking as well as the industrial sector, while also helping large and small scale industry sectors of India to invest big in both national and international forums, to boost the country’s economy.