Indian economy is better placed than many developed countries: FM Nirmala Sitharaman

New Delhi: Finance Minister Nirmala Sitharaman has said that  Indian economy is definitely in much better condition  as  compared to situation prevailing in many of its peer group nations  as well as  in developed economies. Replying to a discussion in the Rajya Sabha on the rising prices of essential items in the country, Ms Sitharaman said the macro economic fundamentals of the country are strong.  

The Finance Minister said  the rate of inflation is currently at 7 per cent and the government



and Reserve Bank of India are collectively taking steps to control it and keeping it below 6 per cent.  

She said, there is no GST on withdrawal of cash from banks by the customer or by the cheque books, She said, GST has been imposed on the cheque books when it is purchased by the banks from the printers.  On GST hike, she said, there is no  GST on hospital bed or ICU but it has been imposed on the hospital room of more than five thousand rupees per day.