New Delhi:
Union Finance Minister Nirmala Sitharaman has said that the government and the Reserve Bank of India (RBI) are working together to control inflation and increase the economic growth of the country and are taking appropriate steps. The Finance Minister said that the inflation rate has come down to about 4% now, which the Reserve Bank (RBI) got a chance to cut the repo rate by 0.25% for the first time after about 5 years. This will provide relief to the people associated with business as well as common people.
Focus on imported inflation
The Finance Minister said that the government is also focusing on imported inflation, not only domestic inflation. For this, the status of the international market is being monitored.
Long stuck housing projects got relief
In addition, Nirmala Sitharaman has handed over the keys to home buyers to complete some stuck real estate projects and housing projects in the Mumbai Metropolitan Region (MMR). These projects have been completed under ‘Swamih Fund’.
The government aims to get more and more people home and the real estate sector will get strengthened. So far 50,000 houses have been completed under this scheme.
What is Swami Fund?
It is a government fund launched in 2019, which manages SBI Ventures Limited, a subsidiary of State Bank of India (SBI). Its purpose is to complete stalled housing projects and give relief to home buyers.