Govt, RBI working together to control inflation and drive growth: FM

Union Finance Minister Nirmala Sitharaman on Monday said the government and Reserve Bank are working in "sync" to control inflation and in turn boost growth.

Speaking to reporters here, the finance minister said inflation cooled to nearly 4 per cent, and attributed this outcome as a factor which helped the Reserve Bank cut interest rates first time in over four years when it slashed the repo rate by 25 basis point this month.

"Inflation-related management of supplies and also the monetary policy is working in sync in order to favour the growth cycle," the FM said.

She said that inflation management also includes work on aspects relating to imported inflation.

Meanwhile, Sitharaman handed over keys to homebuyers from select projects in the Mumbai Metropolitan Region (MMR), whose long-stressed residential projects have been completed under the "Special Window for Affordable and Mid-Income Housing (SWAMIH I) Investment Fund".

The milestone marks the completion of 50,000 homes, as per an official statement. Homebuyers from projects including Avant Hillways, Vision Heights and Shubham Trident received their keys at the event, it said.

Established in 2019 and managed by SBI Ventures Ltd., a State Bank of India Group company, the SWAMIH Fund is sponsored by the Ministry of Finance.