Advertisement

Help
You are here: Rediff Home » India » Business » Report
Search:  Rediff.com The Web
Advertisement
   Discuss   |      Email   |      Print | Get latest news on your desktop

Inflation a major concern: PM
 
 · My Portfolio  · Live market report  · MF Selector  · Broker tips
Get Business updates:What's this?
Advertisement
September 05, 2008 19:41 IST
Prime Minister Manmohan Singh said on Friday rising prices have emerged as a major concern for the government and stepping up productivity is the only way to ensure that economic growth is not inflationary.

Government has taken several measures to moderate rising prices and at the same time tried to ensure that inflation control measures did not hurt the growth momentum in the last four years, Singh said after laying the foundation stone for the Rs 1,750-crore (Rs 17.5 billion) expansion and modernisation of the Salem Steel Plant in Salem.

"In the Eleventh Five Year Plan period, we expect the economy to grow at around nine per cent. To ensure that growth process is not inflationary, we must step up productivity and increase output," Singh said

In order to ensure non-inflationary growth, the country must step production in all sectors, he said, adding that India still has a long way to go in creating infrastructure for modernising the country.

Congress President and United Progressive Alliance Chairperson Sonia Gandhi, along with several central ministers, were also present on the occasion.

Lauding the role of public sector Steel Authority of India Limited in the country's economic growth, Gandhi said the PSUs would continue to occupy a crucial position in areas like steel, power, gas, telecommunication.

The UPA government is committed to empower the PSUs, she added.
© Copyright 2008 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.
 Email  |    Print   |   Get latest news on your desktop

© 2008 Rediff.com India Limited. All Rights Reserved. Disclaimer | Feedback