According to Rajnath Singh, inflation has risen due to global supply chain and logistical inefficiencies.

Union defence minister Rajnath Singh said that core inflation has also increased due to the global supply chain and other logistical bottlenecks . He said that the nation is seeing a V-shaped recovery after the pandemic .

LUCKNOW: While attending a financial market workshop hosted by the Lucknow branch of Central India Regional Council (CIRC) of Institute of Chartered Accountants of India (ICAI) in the city, union defence minister Rajnath Singh said that core inflation has also increased due to the global supply chain and other logistical bottlenecks.However, he said that the nation is seeing a V-shaped recovery after the pandemic, which was a positive development.The world economy is going through a difficult phase as a result of the Covid-19 pandemic and now the Russian-Ukraine conflict, according to him.Russia and Ukraine are two of the world's largest oil exporters.

Since we import hydro-carbon and oil-seeds in large quantities, their prices have harmed our region.Food and fuel costs have increased.According to Lucknow's MP, core inflation has also increased due to the global supply chain and other logistical bottlenecks.He said that the government has taken a variety of steps to tackle these challenges, which are visible.

Our exports continue to break new records and are likely to increase even more.He said that a big free trade deal has been signed with Australia and that similar deals have been signed with other partner countries.The minister underlined that the government's top priorities for infrastructure projects such as roads, railways, airports, ports, and shipping is one of the highest priorities, adding that the Product Linked Incentive Scheme (PLIS) has resulted in increased private investment, which will boost the economy's demand.Following the pandemic, we are seeing a V-shaped recovery.

Due to the success of our Covid-19 vaccination program, contact-based services are also gaining traction.This is a positive indicator for our economy to recover, he said.