India: Economy and Trade
GOVERNMENT STILL UNDERPLAYING LOOMING INFLATION
DIVERSIFICATION OF EXPORT MARKETS NEED OF THE HOUR
2009-08-31 09:30
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It is time for Government to stop harping on the unachievable 9 per cent growth in the near term - the irretrievably lost target of the 11th plan - and focus more on managing the drought-hit economy and rising inflationary expectations, as rural distress is widespread while the country as a whole has been in the grip of high food price inflation. Citing past experience in handling droughts and “adequate foodgrain stocks†in the godowns would smack of complacency in the absence of a credible action programme to ensure food security for the poor, rural and urban, and lower inflationary expectations.