Industry & Economy
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Economic Survey
More steps to curb inflation
Our Bureau
New Delhi, Feb. 27
The Union Finance Minister, Mr P. Chidambaram, on Tuesday said that the Government would make every effort to "maintain and manage" the current high growth without stoking inflation in the economy. The Economic Survey for 2006-07 has highlighted that fight against inflation has to be calibrated so that policies contain price rise without the compromising growth of the economy. The country's gross domestic product (GDP) is estimated to grow by 9.2 per cent this fiscal on the back of strong manufacturing and services sector growth.
"You will find that the outlook (as per the economic survey) for the economy remains positive despite concerns about rising prices. We share the concerns. We have taken steps to moderate inflation and will continue to take more steps", Mr Chidambaram told reporters after tabling the Economic Survey for 2006-07 in Lok Sabha today. The latest Government data for the week ended February 10 showed the wholesale price index (WPI) based inflation at 6.63 per cent, lower than 6.73 per cent a week earlier. The Reserve Bank of India had projected an inflation range of 5-5.5 per cent for the current fiscal.
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