Asia-Pacific

Indian govt presents general budget to Parliament

(Xinhua)
Updated: 2011-02-28 15:39
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NEW DELHI - The Indian government Monday said inflation continues to remain a concern while presenting the 2011-2012 general budget to Lok Sabha or Lower House of Parliament.

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While presenting the 2011-2012 general budget to the Parliament, Indian Finance Minister Pranab Mukherjee said that he expected the policy of the country's central bank, or Reserve Bank of India (RBI), to further moderate inflation in coming months and inflation be lower next year.

Mukherjee also called for improvement of distribution and marketing systems to bridge the gap between wholesale and retail prices.

The minister pointed out the total food inflation declined from 20.4 percent in February, 2010 to less than half, at 9.3 percent in January, 2011.

"We are reaching an end to a remarkable year with high growth and many challenges. Our growth in 2010-11 has been swift and broad-based. Economy is back to pre-crisis growth trajectory," Mukherjee said in his opening remarks when presenting the budget. 

The minister said he did not foresee resources being a major constraint in investing in the larger agenda of growth, social programs and infrastructure development.  

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