BJP credits PM Modi for fall in inflation rate

The Bharatiya Janata Party (BJP) on Tuesday gave credit to Prime Minister Narendra Modi-led government for the decline in the rate of inflation, terming it as 'a great news for 125 crore Indians'.

"The wholesale inflation rate has come down to the lowest level in over two years and the retail inflation rate has come down to an all-time low in five years. This is what is a classic definition of 'acche din' is, which was promised by BJP and the vision of Prime Minister Narendra Modi is finally taking root in India,' BJP spokesman Sambit Patra told ANI here.

"Prime Minister Modi had said that we will look after the aspiration of 125 crore people and today, when the inflation rate has decreased, it is a great news for the 125 crore Indians," he added.

BJP leader Anurag Thakur said, "In the last ten years the then Prime Minister Manmohan Singh had said that he would reduce the price rise in 100 days, but it did not happen. Since the new government has come into power, prices have gone down and I am fully confident the price rise will further go down and the country's growth rate will increase."

The Wholesale Price Index (WPI) inflation for the month of September touched a five-year low of 2.38 percent after a 3.74 percent reading in August.

Meanwhile, retail inflation fell sharply in September from the previous month, dropping to its lowest since the government launched the consumer price index (CPI) in 2012.