Explain the impact of inflation during the Congress regime and the measures taken by the current government to control it.
Inflation witnessed double-digit growth in the Congress regime, but the current government has successfully contained it below 5% as per Amit Shah.
- Inflation during the Congress regime reached double-digit figures due to various economic factors like high oil prices and policy inefficiencies.
- The current government has implemented several measures to control inflation, including better fiscal management, controlling money supply, promoting investment in the agriculture sector, and ensuring price stability.
- Initiatives like the Pradhan Mantri Fasal Bima Yojana and the Agricultural Produce Market Committee Act have helped in stabilizing food prices and reducing inflationary pressures.
- The government's focus on structural reforms, like implementing the Goods and Services Tax (GST) for indirect tax reforms, has also contributed to managing inflation effectively.
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a year ago