Government today said, the growth drivers of Indian economy, the industry and services sector, are intact and any fiscal profligacy at this juncture is going be disastrous. Addressing a Banking Conclave in New Delhi, Finance Minister Pranab Mukherjee said that Indian manufacturing is making its presence felt globally and the services sector is helping India absorb the monsoon deficiency. He, however, said that inflationary pressures are still persisting in the Indian economy for which the government and the Reserve Bank of India are taking steps. The Finance Minister's comments came a day after RBI raised the repo and reverse repo rates by 25 basis points each to 7.50 and 6.50 percent respectively sacrificing growth. Mukherjee endorsed the RBI's stance saying the country needed to have price stability for sustaining growth in the medium and long term. The finance minister also said that India needs quality infrastructure for 9 to 9.5 per cent economic growth in the 12th five-year plan period beginning 2012. The Government has earmarked an investment of over 1 trillion US dollar on infrastructure in the next plan period.