02:59 ET<\/span>
\n<\/span><\/p>\nIndia’s government has unveiled its annual budget, saying that the economy is expected to grow at 9% in 2012.<\/p>\n
Finance Minister Pranab Mukherjee said the growth rate for the current fiscal year was projected at 8.5%.<\/p>\n
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”.<\/p>\n
Mr Mukherjee promised action on food security and pledged an increase in social spending. <\/p>\n
“The country has carried for long enough the burden of hunger and malnutrition,” he said. <\/p>\n
The finance minister said a food security bill, which will guarantee cheap food to the poor, would be introduced into parliament soon. <\/p>\n
He also announced a substantial increase in funds for education and health. Social spending funds are also set to increase by 17%. <\/p>\n
‘Mixed’ performance<\/span><\/p>\nFunds for health and education have risen to $5.9bn (\u00a33.7 bn) and 520 billion rupees respectively.<\/p>\n
The budget deficit has reduced to 5.1% of GDP this fiscal year, down from more than 6%. The plan is to cut this to 4.6% next year.<\/p>\n
Mr Mukherjee also announced a $22m fund to help the struggling micro finance industry which is facing a liquidity crisis after borrowers in parts of India stopped repaying loans.<\/p>\n
He said the government’s performance in handling the economy was mixed.<\/p>\n
“While we succeeded in making good progress in addressing many areas of our concern, we could have done better in some others,” Mr Mukherjee said.<\/p>\n
“Fiscal consolidation has been impressive. This year has also seen significant progress in those critical institutional reforms that will pave the way for double digit growth in the near future.”<\/p>\n
Mr Mukherjee said the economy had shown “remarkable resilience” despite the food inflation and a current account deficit.<\/p>\n
India’s prime minister has already warned that India’s rapid growth is under serious threat from inflation. <\/p>\n
Alluding to recent alleged corruption scandals plaguing the government, Mr Mukherjee said an impression may have been created that there is “drift” in the government.<\/p>\n
“Such an impression is misplaced … Corruption is a problem [and we] must fight it collectively.”<\/p>\n<\/p><\/div>\n<\/p>\n
See the original post here:
\nIndia economy to sustain growth<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" 28 February 2011 Last updated at 02:59 ET 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%<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-284151","post","type-post","status-publish","format-standard"],"yoast_head":"\n
India economy to sustain growth - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/02\/28\/india-economy-to-sustain-growth\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"India economy to sustain growth - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"28 February 2011 Last updated at 02:59 ET 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%\" \/>\n<meta name=\"twitter:creator\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:site\" content=\"@ghanamma\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/02\\\/28\\\/india-economy-to-sustain-growth\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/02\\\/28\\\/india-economy-to-sustain-growth\\\/\"},\"author\":{\"name\":\"\",\"@id\":\"\"},\"headline\":\"India economy to sustain growth\",\"datePublished\":\"2011-02-28T07:59:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/02\\\/28\\\/india-economy-to-sustain-growth\\\/\"},\"wordCount\":361,\"commentCount\":0,\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/02\\\/28\\\/india-economy-to-sustain-growth\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/02\\\/28\\\/india-economy-to-sustain-growth\\\/\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/02\\\/28\\\/india-economy-to-sustain-growth\\\/\",\"name\":\"India economy to sustain growth - Ghanamma.com\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/#website\"},\"datePublished\":\"2011-02-28T07:59:12+00:00\",\"author\":{\"@id\":\"\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/02\\\/28\\\/india-economy-to-sustain-growth\\\/\"]}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/#website\",\"url\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/\",\"name\":\"Ghanamma.com\",\"description\":\"News In Ghana - Latest Ghana News Headlines\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.ghanamma.com\\\/2011\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"India economy to sustain growth - Ghanamma.com","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.ghanamma.com\/2011\/02\/28\/india-economy-to-sustain-growth\/","twitter_card":"summary_large_image","twitter_title":"India economy to sustain growth - Ghanamma.com","twitter_description":"28 February 2011 Last updated at 02:59 ET 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%","twitter_creator":"@ghanamma","twitter_site":"@ghanamma","twitter_misc":{"Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.ghanamma.com\/2011\/02\/28\/india-economy-to-sustain-growth\/#article","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/02\/28\/india-economy-to-sustain-growth\/"},"author":{"name":"","@id":""},"headline":"India economy to sustain growth","datePublished":"2011-02-28T07:59:12+00:00","mainEntityOfPage":{"@id":"https:\/\/www.ghanamma.com\/2011\/02\/28\/india-economy-to-sustain-growth\/"},"wordCount":361,"commentCount":0,"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.ghanamma.com\/2011\/02\/28\/india-economy-to-sustain-growth\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.ghanamma.com\/2011\/02\/28\/india-economy-to-sustain-growth\/","url":"https:\/\/www.ghanamma.com\/2011\/02\/28\/india-economy-to-sustain-growth\/","name":"India economy to sustain growth - Ghanamma.com","isPartOf":{"@id":"https:\/\/www.ghanamma.com\/2011\/#website"},"datePublished":"2011-02-28T07:59:12+00:00","author":{"@id":""},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.ghanamma.com\/2011\/02\/28\/india-economy-to-sustain-growth\/"]}]},{"@type":"WebSite","@id":"https:\/\/www.ghanamma.com\/2011\/#website","url":"https:\/\/www.ghanamma.com\/2011\/","name":"Ghanamma.com","description":"News In Ghana - Latest Ghana News Headlines","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.ghanamma.com\/2011\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"}]}},"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/284151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/comments?post=284151"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/posts\/284151\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/media?parent=284151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/categories?post=284151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2011\/wp-json\/wp\/v2\/tags?post=284151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}