Amid inflation doubling to 1.54 per cent in October on monthly basis, the government on Monday admitted that there have been supply constraints on some food
items, leading to rising prices of those items.
Finance Minister Pranab Mukherjee said the economy is expected to do better in the remaining part of the fiscal, and asserted that there is no need to be panic on rising prices as there is enough food stocks in the country.
Private sector lender, ICICI Bank, expects the infrastructure, pharmaceuticals, education and IT sectors to contribute to overall business growth by about 20 percent this fiscal, a senior company official said.
Emerging economies, including
India, are set to return to sustained growth trajectory by
2011 on growing domestic demand even as the downturn in the
developed economies is likely to continue for the next several