ASSOCHAM discounted the government’s predictions of 7.5% Economic growth this fiscal the Government on Wednesday pegged growth for the current year even higher at 7.75%. However the Government said high food inflation remained a cause for concern.
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In a pre budget interaction with states Finance Ministers, Union Minister Pranab Mukherjee proposed open market sale of the Government wheat and rice stocks to increase availability in market which would ease prices. A major area of concern is high food inflation, WPI index increased by 19.79 percent therefore collaboration efforts of the central and state government are required to tackle this problem.
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