Finance Minister Pranab Mukherjee today said high inflation and uncertain global environment are main concerns faced by the Indian economy , but exuded confidence that the government would tackle them. “Though, there are some immediate concerns for economic management arising from inflationary pressures, and from the uncertain external environment, we have the ability to address them,” Mukherjee said at a pre-budget consultations with non governmental organisations.
Meanwhile, NGOs called for green budget that will address the issue like climate change and termed nuclear energy as false solution and coal as dirty option.
“If India as country is serious about giving energy to all, then we need to think beyond false solutions like nuclear energy and dirty options like coal and invest in decentralised renewable energy,” NGO Greenpeace said in a presentation to the Finance Minister.
Snapping the five-week rising trend, food inflation sftened to 16.91 per cent for the week ended January 1, 2011, although vegetables, onions and protein-based items continued to remained costly.
Food inflation fell by 1.41 percentage points from 18.32 per cent recorded in the previous reporting week.
The overall headline inflation in November had come down to 7.48 per cent from 8.58 per cent a month ago.
Europe is struggling hard to prevent financial crisis to Ireland from spreading to rest of the countries in Europe.
Mukherjee further said that our main challenge is to sustain this high GDP growth over an extended period of time and find the means to cross the ‘double digit growth barrier’ in the coming years.
The Finance Minister held a meeting with NGOs to get their inputs for General Budget 2011-12. This was the fourth meeting in the series of pre-Budget consultations held by Finance Minister with the stakeholders of different sectors.
The representatives from different NGOs who attended the meeting include Binju Abraham from PRADAN, Namrata Bali from SEWA Academy, Swami Atmapriyananda from Ram Krishan Mission, Sandeep Pandey from ASHA, Mohamed Musa from Care India, D R Mehta from Jaipur Foot and Swami Agnivesh from Bandhua Mukti Morcha (BMM), among others.