Finance Ministry Report WPI Inflation Declines To 25 Months Low Transmission In Retail Inflation To Happen Soon

Monthly Economic Report: The Finance Ministry has said in its Monthly Economic Report for the month of February that the country’s economy is continuously moving forward on the path of development. The GDP figure for the third quarter of 2022-23 confirms this fact. The report prepared by the Ministry’s Department of Economic Affairs states that the Wholesale Inflation (WPI) rate has come down to a 25-month low and will soon have an impact on the Consumer Price Index. Will also be seen as a decline.

The Finance Ministry said in its report that due to the fall in commodity prices in the international market and the decisions taken by the government, there has been a reduction in the inflation rate in February 2023. In the month of February, the retail inflation rate has come down from 6.52 percent in January to 6.44 percent. So the wholesale price based inflation has come down to 25 months low of 3.85 per cent in the month of February.

It has been said in the report that there is an improvement in employment related data, due to which inclusive economic growth is being seen in the third quarter. According to the report, India ranks second in the world in the FDI Standouts Watchlist 2023 due to strong foreign investment inflow and better macroeconomic cycle.

The Finance Ministry said in its monthly report that India is one of the few countries in the world whose outstanding corporate debt as a percentage of GDP in the third quarter of 2022-23 is less than in the same quarter of 2008. There is a gradual improvement in the quality of corporate loans. Historically, due to the low debt on corporates of India, they have immense possibilities of raising debt.

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