Synchronization of Monetary and Fiscal Policy would better address the challenges posed by high Inflation: PHD Chamber

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New Delhi, May 2022- Sh. Pradeep Multani, President, PHDCCI said that there must be synchronization between the monetary policy and fiscal policy of the Government. PHDCCI appreciates the steps undertaken by the Central Government to reduce the excise duties on petroleum products to curb inflation. So at this juncture, states should also come forward to reduce the excise duties where there is price escalation. The efforts of the State Governments would go a long way to help India’s growth remain intact. As the economy is recovering from the daunting impact of coronavirus the combined efforts of the central Government and the state Governments along with synchronization of monetary and fiscal policy would better address the challenges posed by high inflation. PHDCCI urge all the states to come forward sooner than later as inflationary pressure will not impact the growth but also social sector developments.

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