Growth pangs: Pranab to meet industrialists
Finance minister Pranab Mukherjee will on Monday meet top industry captains to discuss measures to boost the economy. HT reports.business Updated: Jul 31, 2011 23:29 IST
Finance minister Pranab Mukherjee will on Monday meet top industry captains including Reliance Industries chairman Mukesh Ambani, ADAG chairman Anil Ambani, Tata group chairman Ratan Tata, Aditya Birla Group chairman Kumar Mangalam Birla and Mahindra and Mahindra vice-chairman Anand Mahindra among others to discuss measures to boost the economy.
The meeting comes at time when India's policy makers are wrestling with a dilemma as fiscal and monetary measures to combat inflation has not tamed prices, but has cast a shadow on broader economic growth.
The government has officially pared the Indian economy's growth forecast for 2011-12 to 8.6% from the earlier 9%.
India's inflation rate in June accelerated to 9.44% driven by high fuel and manufactured products' prices but experts warned that prices will again surge in the coming weeks as the knock-on effects of a hike in diesel prices cascade through the economy.