Bharatiya Janata Party on Monday credited the initiatives taken by Narendra Modi government for the decline in inflation and said it was committed to bring down prices and help improve the country's economy to make the life of the common man easy.
The party said its government has taken a number of initiatives since its formation including tough action against hoarders and limiting export prices of essential commodities like onion, rice and wheat.
"Because of the continuous efforts taken by the Narendra Modi government, inflation has started coming down slowly.
“It is a result of better management and a number of initiatives taken by the government, which will continue to work towards easing inflation and improving the state of the economy to help make the life of the common man easier," BJP Secretary Shrikant Sharma said.
He said government is committed to bringing inflation down and helping improve the state of the economy, which was left "in a shattered state by the previous Congress-led United Progressive Alliance government because of mismanagement, bad governance and corruption".
He referred to delisting of fruits and vegetables from the Agriculture Produce Market Committee markets besides releasing foodgrains in the open market as some of the measures.
The BJP leader said more initiatives will be taken by the government for further reducing the prices of essential commodities.
Softening prices of food items, including vegetables, pulled down the WPI inflation to a five-year low of 3.74 per cent in August.
The August inflation, measured by Wholesale Price Index, declined from 5.19 per cent in July, while the same was 6.99 per cent in the same month last year.
It is the lowest since October, 2009 when it stood at 1.8 per cent.
