Govt to go all out to revive economy: FM

New Delhi: Expressing the government’s commitment to continue with reforms, finance minister Nirmala Sitharaman on Thursday assured India Inc that it is ready to do everything required to revive and support economic growth hit by the Covid-19 pandemic.

New Delhi, Aug. 12: Expressing the government's commitment to continue with reforms, finance minister Nirmala Sitharaman on Thursday assured India Inc that the Centre is ready to do everything required to revive and support economic growth.

She said there is a need to promote growth as it helps bring down poverty, but it would not be at the cost of inflation.

The RBI has been mandated to keep inflation at 4 per cent, with tolerance level of 2 per cent on either side.

Both the government and the Reserve Bank of India are working in tandem to achieve the objective, she said while addressing the CII annual meeting 2021.

"Growth will be given its importance. Growth will be pushed both by the Reserve Bank and by us.

“We also want to assure the industry that inflation in the last 7 years has not crossed 6 per cent except for seasonal variation. Inflation has been well within that band," she said.

Pointing out that she is not looking at growth versus inflation, Sitharaman said "we should attend to inflation, keep it contained, take all the necessary steps, but never forget that growth is what is going to make the difference to the economy's revival and growth is what is eventually going to remove poverty.”