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Monday, July 21, 2008

PM: Government acting to control inflation, sustain growth.





PM: Government acting to control inflation, sustain growth. According to news agency Reuters , Prime Minister Manmohan Singh stated on Tuesday that the recent steps taken by the government were intended to control inflation and to maintain strong economic growth despite the uptrend in global oil prices. Singh said that the measures would protect the poor from high inflation. According to official data, India's annualized wholesale price-based inflation increased to a thirteen-year high of 11.89% as on June 28. The central bank expects the economic growth rate to decline to between 8% and 8.5% in fiscal year 2008-09 (April to March) from 9% in 2007-08.







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