April 1, 2010 8:44 PM

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PM asks RBI to formulate policies to check inflation

The Indian economy can get back to 9 per cent growth rate by end of the 11th plan and do even better there after. This was stated by the Prime Minister Dr Manmohan Singh in his address at the Reserve Bank of India's Platinum Jubilee function in Mumbai on Thursday evening. Dr. Singh said that he has asked the Planning commission to explore the feasibility of achieving 10 per cent inclusive growth in the 12th plan.<br/><br/>The Prime Minister said that as we pursue our objective of achieving rapid and inclusive growth, our monetary and financial policies must be guided by three objectives.<br/><br/>The Prime Minister emphasized that our banking and financial system is still relatively small compared to the size of the economy. Dr Singh said that for growth to be inclusive, banking must reach out to many more people.<br/>

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