New Delhi, Aug 02: 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. She emphasised that, as compared to the peer group nations, emerging and advanced economies.
Replying to a discussion on the the rising prices of essential items in the country in the Rajya Sabha , Ms Sitharaman said that  the macro economic fundamentals  of the country are  strong. 
The Finance Minister said that 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 the cheque books, She said, GST has been impose 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 hospital  room of more than five thousand rupees per day.
Earlier, initiating the discussion, Elamaram Kareem of CPI (M) criticized the government for inflation and GST hike on essential commodities. He said, price of essential items including rice, wheat and edible oil has increased during the last eight years which are adversely affecting the common man. He questioned the government over the GST hike on essential commodities saying that the decision was not taken unanimously in the GST council meeting as claimed by the Centre. He alleged that government policies are in the favour of the rich and corporate.
Congress MP Shaktisinh Gohil also criticized the government saying that inflation rate has almost doubled during the last one year. He raised question over the rising unemployment in the country. He said, the government has raised the GST on the essential items rather than providing relief to the people. Derek O’Brien of TMC also questioned the government over the GST hike, depreciation of the value of rupee and rising unemployment. He said, 29 per cent of youth of the country are unemployed. Tiruchi Siva of DMK said, the country has never seen such a critical time as witnessed during the rule of current government. He questioned the government on rising unemployment, adverse impact on economy by the demonetisation drive and GST hike on essential items. Sanjay Singh of AAP criticized the government on the issue of rising inflation and unemployment in the country. He alleged that the government’s policies are in the favour of corporate. Mr. Singh also raised the issue of Gujarat hooch tragedy and alleged misuse of central agencies.