In a recent interview with Moneycontrol PM Narendra Modi talked about how developing countries can come together and tackle Inflation.
“Further, for this, there is an understanding that timely and clear communication of policy stances by the central banks is crucial,” Modi said. India’s central bank has raised the benchmark repo rate by 250 basis points (bps) to 6.5 percent in 2022-23, but has kept it unchanged so far in 2023-24.
“As far as India is concerned, we have taken a number of steps to control inflation. Even in the face of adversities and global dynamics, India’s inflation was two percentage points lower than the global average inflation rate in 2022,” the Prime Minister told Moneycontrol.
He suggested that all these problems can only be solved with cooperation with each other and if we come together there will be no problem existing like high prices and inflation.