India lags several nations in per capita income: Govt
PTI: New Delhi, Dec 19 2012, 16:07 IST
against a WPI inflation rise of 9.6 per cent. In 2009-10, it was 6.6 per cent and 3.8 per cent respectively.
To a query on measures being taken by the government to improve growth momentum and contain inflationary pressures, the Minister said: "On the growth front, steps have been taken to increase Foreign Direct Investment which would contribute to both greater capital inflows and over the long run, higher productivity thereby inducing growth."
Measures have also been taken by the RBI to contain inflation, he added.
"The tight monetary policy followed by RBI has the tendency to typically operate through compression of demand in the short run in order to contain inflation," Shukla said.
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