Business Economy


Record-low inflation opens window for growth acceleration: PHDCCI

New Delhi, Oct 13 (UNI) The record-low inflation offers a strong foundation for India’s next phase of growth, presenting a moment of opportunity to revitalize private investment, stimulate consumption, and accelerate job creation, said Rajeev Juneja, president of PHD Chamber of Commerce and Industry (PHDCCI).
“Food inflation (Provisional) registered a minus 2.28 percent year-on-year decline, extending its downward trend for the fourth consecutive month. Among categories, the sharpest declines were driven by lower inflation in vegetables, oil & fats, fruits, pulses, cereals, and eggs, as well as moderated increases in energy and fuel prices. Better arrivals of vegetables, cereals, and pulses at mandis led to a correction in retail prices,” said Juneja.
“The moderation in food and fuel prices has provided much-needed relief to households and improved purchasing power. Going forward, we urge the government to leverage this price stability to enhance credit availability, ease of doing business, and export competitiveness, especially for MSMEs and labour-intensive sectors.” Juneja added.
Moreover, Dr. Ranjeet Mehta, CEO and Secretary General of PHDCCI, said, “We anticipate that India’s inflation will remain within a comfortable range over the next two quarters, supported by adequate food supplies, moderate energy costs, and prudent monetary management by the Reserve Bank of India.” UNI SAS SS
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