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02-12-2012, 12:38 PM #1
Pranab Mukherjee appeals to industrialists to counter economic uncertainty
Union Finance Minister Pranab Mukherjee has appealed to industry leaders to help the nation to come out of the current economic uncertainty.
"Because we have already achieved 9 percent GDP growth in three consecutive years 2005-06, 06-07 and 07-08, therefore I agree with you that there is a sense of despondency. But mere expression of despondency and lamenting over it is not going to help us, it is for ourselves that we have to act together to come out of the present situation," Mukherjee said at the annual general meeting of Bharat Chamber of Commerce.
Mukherjee also expressed his deep concern over mounting inflation.
"Areas of concern for our economy are firstly slow growth rate, second is high inflation, third area of concern is fiscal imbalance and the need for coming back to the path of consolidation sooner or later and the fourth area of concern is about the current account deficit which has been caused by certain factors over which the domestic policy makers do not have much control," he said.
He also said that India will struggle to meet the fiscal deficit target of 4.6 percent in the current fiscal year that ends in March.