India’s government has unveiled its annual budget, saying that the economy is expected to grow at 9% in 2012.
Finance Minister Pranab Mukherjee said the growth rate for the current fiscal year was projected at 8.5%.
He said inflation would decrease over the next fiscal year – the current rate is 8.4%. But food price inflation, at 17%, “remains a concern”.
Mr Mukherjee promised action on food security and pledged an increase in social spending. …
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