In the last two days, Prime Minister Narendra Modi’s government has received four excellent news one after the other. These news are a matter of happiness not only for the government but for all of us. From decline in inflation to praise of India abroad, every news is encouraging. This will greatly benefit the Government of India and its citizens. Let us tell you how important these news are for India.
reduction in inflation
The first good news is inflation. September figures show that retail inflation or CPI, which hits the common man’s wallet, has declined to 1.54%. This is the lowest level in the last 99 months, i.e. since June 2017. This means that food items like vegetables and grains are now becoming cheaper. In August this rate was 2.07%, which was slightly higher. Now cheap goods will be available in the market, which will make running the house easier. Farmers will also benefit by reducing the cost of farming.
Besides, wholesale inflation, or WPI, which is key for big businesses and factories, also declined to 0.13% in September. In August it was 0.52%. The government said that this relief has come due to low prices of food items, factory products and other goods. Reduction in wholesale prices will also reduce prices in stores, which is a good thing for all of us.
India-US trade agreement soon
The third news is related to trade relations between India and America. The stalled trade agreement between the two countries is now showing progress. The US team recently visited Delhi and the Indian team will now travel to the US this week. There are reports that talks are on track and pending issues may be resolved. If this agreement is reached, India’s exports will increase, jobs will be created and our economy will be rejuvenated. The agreement with a major country like America is a big opportunity for us.
IMF praised India
The fourth and most proud news came from IMF. International Monetary Fund chief Kristalina Georgieva praised India. He said that India is now becoming the engine of the world economy. Ahead of the IMF-World Bank meeting, he said India’s economic policies have proved wrong those who were doubting its progress. The world is amazed at the speed of India. These four news show that India is progressing rapidly. Inflation is under control, trade is growing and the world is recognizing our strength. This is a matter of pride for every Indian.
