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The Finance Minister, Mr Pranab Mukherjee, on Tuesday endorsed the Reserve Bank of India move to hike its policy rates.
The central bank's policy announcement was in conformity with the thinking and policies being pursued by the Government, Mr Mukherjee told reporters here.
He said that the RBI Governor, Dr D. Subbarao, had taken the appropriate step by giving signal to control inflation and at the same time not compromise on growth. The RBI had hiked policy rates six times in 2010.
The Finance Minister, however, expressed concern over food inflation. “The current level of food inflation is unacceptable,” he said.
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