The Indian government has presented its annual budget and said the economy should grow by 9% in 2012.
Finance Minister Pranab Mukherjee said that the rate of growth for the current fiscal year was projected at 8.5%.
He said that inflation would decline next fiscal year – the current rate is 8.4%. But food price inflation of 17%, “remains a concern.”
Mr. Mukherjee has promised to act on food security and promised increased social spending.
“The country has made long enough that the burden of hunger and malnutrition,” he said.
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