 "Union Finance Minister Nirmala Sitharaman")
Finance Minister Nirmala Sitharaman on Thursday said inflation management can’t be singularly left to monetary policy, “which has proved totally ineffective in many countries”, and noted that both fiscal and monetary policies have to work in lockstep to contain the rise in prices. She also said importing Russian oil was part of India’s inflation-management strategy.
“India’s inflation management is an exercise of so many different activities, a majority of which are outside of monetary policy even in today’s circumstances,” Sitharaman said at an event organised by the Indian Council for Research on International Economic Relations.
The finance minister said the Reserve Bank
