January 8, 2012 8:51 PM

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Pressure on rupee to continue; Current fiscal growth likely to be less than 7.5 per cent: Pranab

Finance Minister Pranab Mukherjee has warned that pressure on the rupee will continue and growth in the current fiscal is likely to be less than the earlier estimate of 7.5 per cent. Addressing a function at Mumbai yesterday, he said, rupee depreciation is largely driven by global factors and the pressure will continue until there is a durable solution to the sovereign debt problem in Europe. Mr Mukherjee said, maintaining the fiscal deficit at 4.6 per cent of the GDP during 2011-12 will be a major challenge. Addressing a function at Dawas in Madhya Pradesh, Pranab Mukherjee stressed the need to strengthen security features to prevent counterfeiting of Indian currency.

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