Economy likely to accelerate, govt will tackle price rise: Patil

The economy will accelerate in the coming years after the global downturn, but the government will push policies to protect millions of poor Indians from the impact of food inflation, President Pratibha Patil said today. Budget 2010

The economy will accelerate in the coming years after the global downturn, but the government will push policies to protect millions of poor Indians from the impact of food inflation, President Pratibha Patil said on Monday.

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Pratibha Patil said the economy is likely to grow about 7.5 percent in the current fiscal year ending March and the government would aim for annual growth rate of 8 per cent and 9 per cent in the next two years.

"It is imperative that as our economy grows apace, the disadvantaged sections of society be made part of the Indian success story," Patil said in a speech to the Parliament.

Patil said the government would take measures to bring relief to Indians over food prices, which rose over 17 per cent on year in January.

"My government is committed to bringing forth a legislation to ensure food security," she said.
Patil added higher agricultural productivity, reforms in the public distribution system and open market intervention are needed for ensuring food security.

The president's speech to the joint session of parliament lays down the government's priorities for the year.