July 29, 2011 2:11 PM

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PMEAC to release assessment report on India's economy

Prime Minister's Economic Advisory Council, PMEAC, will release its assessment report on India's economy on Monday. The report is likely to recommend measures to spur growth in the wake of deteriorating investment climate and rise in inflation in the recent times. The PMEAC has already lowered country's economic growth forecast to 8.2 per cent for this financial year. PMEAC Chief C Rangarajan has already said that inflation will remain sticky this year and may rise up to 7 percent by the end of this fiscal. It has also recommended a heightened investment on infrastructure sector for sustained economic growth. On Agriculture sector, it has said that the country needs to achieve and sustain a 4 per cent growth for at least 10 years to achieve the food security target set by the government.

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