New Delhi, Aug 14 (UNI) The government has succeeded in protecting the common people from high inflation while also providing a more extensive security cover to the poor, President Droupadi Murmu said on Monday in her address to the nation on the eve of 77th Independence Day.
The President said that inflation at the global level remains a cause for worry but in India the government and the Reserve Bank of India (RBI) have managed to contain it.
“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,” she said.
Incidentally, the retail inflation rose to 15-month high of 7.44% in July this year, the latest data available, on the back of high food prices especially those of vegetables.
Murmu said that India’s economy has proven to be not only resilient during turbulent times but is also a beacon of hope for others.
“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.
She noted that India has converted challenges into opportunities and has recorded high GDP growth.
The President said that 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,” she stated.
