New Delhi: The Congress Thursday took a swipe at the Centre over Union Commerce Minister Piyush Goyal’s remarks that it is flawed theory to consider food inflation for making a choice on cutting rates, saying the government knows only one trick which is to change the data altogether if it data doesn’t suit them.
The opposition party’s attack came after Goyal said the Reserve Bank of India (RBI) should definitely cut interest rates.
“RBI must cut interest rates. It’s a flawed theory to consider food inflation for making a choice on cutting rates. This is my personal view and not that of the government,” Goyal said at CNBC-TV18 Global Leadership Summit.
Speaking at the same event, RBI Governor Shaktikanta Das declined to comment on Goyal’s suggestion for a rate cut, maintaining that the rate-setting panel will take an appropriate call on it at its next meeting in December.
Congress general secretary in-charge communications Jairam Ramesh said a senior and influential minister is publicly stating that the RBI should not consider food inflation while determining interest rates.
“Aside from raising concerns about the RBI’s independence, this statement also shows extreme insensitivity. Food inflation has been raging for quite some time now and has crossed double digits. It is a very large component of the budgets of India’s families, and absolutely needs to be considered when setting monetary policy rates,” Ramesh said in a post on X.
“The non-biological PM’s government knows only one trick: if the data doesn’t suit them, they will change the data altogether,” the Congress leader said.
In his remarks, Goyal also said, “Inflation under the Modi government has been lowest since India’s Independence.”
PTI
