Union Finance Minister Nirmala Sitharaman stated on Monday that the government and the Reserve Bank of India (RBI) are working in close coordination to manage inflation and drive economic growth.

Speaking to reporters, she noted that inflation has cooled to nearly 4%, which played a key role in the RBI’s recent decision to cut the repo rate by 25 basis points—the first reduction in over four years. She emphasized that inflation control measures, including supply-side management and monetary policy, are being synchronized to support the growth cycle. Additionally, she highlighted ongoing efforts to address imported inflation.

Later in the day, Sitharaman handed over keys to homebuyers from select projects in the Mumbai Metropolitan Region (MMR), marking a major milestone in the government’s push to complete long-pending residential developments. These homes were completed under the "Special Window for Affordable and Mid-Income Housing (SWAMIH I) Investment Fund," an initiative aimed at reviving stalled housing projects. According to an official statement, the event celebrated the completion of 50,000 homes under the scheme. Homebuyers from projects such as Avant Hillways, Vision Heights, and Shubham Trident were among those who received their keys.

The SWAMIH Fund was established in 2019 and is managed by SBI Ventures Ltd., a subsidiary of the State Bank of India. Sponsored by the Ministry of Finance, the fund provides last-mile financing to stalled housing projects, ensuring their timely completion and delivering long-awaited relief to homebuyers. This initiative underscores the government’s commitment to addressing housing sector challenges, boosting real estate development, and supporting economic stability through strategic policy measures.

Disclaimer: This image is taken from PTI