: India’s finance ministry claims inflation hurts the rich more than the poor. What does data say? #IndiaNEWS In April, inflation in India rose to an eight-year high with skyrocketing food and energy
India’s finance ministry claims inflation hurts the rich more than the poor. What does data say? #IndiaNEWS
In April, inflation in India rose to an eight-year high with skyrocketing food and energy costs. Soon after the Centre released the April inflation figures, the Union Ministry of Finance, in the Monthly Economic Review released on May 12, observed that inflation impacts low-income groups less than those with a high income.“Evidence on consumption patterns suggests that inflation in India has a lesser impact on low-income strata than on high-income groups,? read the review released by the ministry’s Department of Economic Affairs.This was missing from the Press Information Bureau’s fact-check that came three days later.The Press Information Bureau’s fact-checking unit on May 15 countered a post being widely shared over social media with an image of Union Finance Minister Nirmala Sitharaman claiming that the Finance Ministry has stated “inflation hurts rich more than poor in 2022?.A Tweet with the picture of Union Finance Minister @nsitharaman is being circulated claiming that the Finance Ministry has stated - "Inflation will affect the rich more than the poor in 2022" #PIBFactCheck :▶HZ[HјZx[Z[[XH][ X ][Y[ X˝ ] K U܍ YPXX
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