New Delhi: Hailing the zero level of inflation for the month of November, the lowest in about five- and-a-half years, BJP today credited the Narendra Modi government’s “good governance and development policies” for the positive development.
BJP said that the NDA government led by their party has been able to control inflation during its first six months in office in keeping with the promise made to the people ahead of Lok Sabha elections about checking price rise.
Party secretary Shrikant Sharma said the Wholesale Price Index-based inflation was 7.52 per cent in November last year and had for long hovered around 10 per cent due to the “anti-people” policies of the previous Congress-led UPA government.
“The rate of inflation, which was uncontrollable during the Congress-led government, has been brought down to zero due to NDA government’s good governance and development policies,” he said in a statement here.
Noting that the Retail Price Index-based inflation, too, has fallen to 4.38 per cent against 11.16 per cent in November last year, he said petrol and diesel prices have also come down significantly after Modi became Prime Minister.
As per data released by the government today, declining prices of vegetables and fuel pulled down the inflation to zero level for November.
Food inflation, on decline since May, fell to a nearly three-year low of 0.63 per cent. Inflation in fuel and power segment fell 4.91 per cent, the lowest since 2009.
This is probably the first time when WPI inflation has hit the exact zero level. The last time that the WPI was lower than this was in July 2009 when it was at (-)0.3 per cent.