Union finance minister Nirmala Sitharaman, responding to the debate on price rise in Rajya Sabha, today said India's macroeconomic fundamentals are strong. She also argued against the opposition's contention that the government is in denial about price rise. "We are not saying there is no inflation... We are at 7 per cent (inflation rate) now because of some effort by Reserve Bank of India and the government," she said.
The Trinamool Congress staged a walkout during the finance minister's speech. Ms Sitharaman, party MP Dola Sen said, had made an unnecessary reference to West Bengal, accusing it of levying GST on paneer. When party MP Derek O'Brien asked for a Point of Order, it was not granted.
"We walk out in protest. You don't want to give us a chance to speak," Mr O"Brien said.
The opposition parties in Rajya Sabha had appealed to the government to acknowledge the problem of rising inflation -- which is hitting the poor -- and fix it. The ruling BJP, however, asserted that the problem was a fallout of global development beyond the control of any country.
Participating in a short-duration discussion on rising prices of essential items, the BJP's former Union minister Prakash Javadekar said price rise hurts everyone and the Centre is working constantly to check it.
Following the pandemic and the Russia-Ukraine crisis, the supply chain has been hit, pushing up the food and fuel prices -- an argument Ms Sitharaman had made in the Lok Sabha yesterday. "This is beyond the control of any country. Not only India, prices have risen in other countries too," he said.
He also pointed out that the inflation is at 7 per cent and not yet reached the double-digit level as happened during the UPA rule.
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