Finance Minister Pranab Mukherjee exuded confidence that the economy would soon break the double-digit growth barrier. He, however, conceded that his tax proposals in the budget may contain some inflationary ingredients but it will be a temporary phenomenon. He was addressing the Annual General meeting of FICCI and later responded to queries of Industrialists at another function in New Delhi. He said he has taken a number of measures in the budget to accelerate growth. Mr. Mukherjee assured the industry that the stimulus measures will not be fully withdrawn until a robust recovery is achieved. He expressed concern over high food inflation and said that it is mainly due to demand supply constraints and it will ease with good rabi output. Mr. Mukherjee said he is committed to fiscal consolidation in the interest of the economy's capacity to sustain growth in the medium to long term.
News On AIR | February 28, 2010 8:17 PM
Indian economy to break double-digit growth barrier soon: FM