May 25, 2010 7:43 AM

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PM confident of bringing down inflation from 5 to 6 % by year end

The Prime Minister Dr. Manmohan Singh expressed confidence that the inflation will come down to 5 to 6 percent by the year end. Addressing the first national press conference of the second UPA government in New Delhi on Monday, he said the high rate of inflation is a cause of deep concern and the Centre along with the States will take more measures to control it as it causes distress to the common man. The Prime Minister asserted the country is capable of achieving 10 per cent growth in the medium term. He reiterated the government's projection of achieving 8.5 per cent growth in the current fiscal. Dr. Singh said a draft national food security bill is under preparation. He announced a National Social security fund in unorganised sector to be set up with an initial corpus 1,000 crore rupees.

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