Finance Minister Pranab Mukherjee says lack of external demand is the major reason behind the depleting condition of the Indian rupee in the international market and the government is taking effective measures to improve the condition. He said that India will be soon on the growth trajectory as the present downturn in the economy is a temporary phase.
The Finance Minister said this while addressing a seminar on economic policies in New Delhi today.
Mr. Mukherjee said that Indian economy is in a much better position than many developed economies of the world.
Mr. Mukherjee said the government is focusing on the inclusive growth of the country with focus on the marginalized sections.
This, he said is being achieved through heavy spending in Public welfare schemes like National Rural Health Mission and MNREGA apart from education. The Economic advisor to the Finance Ministry Kaushik Basu said that Food inflation will drop below 3 percent in coming weeks. He said the government must take some decisions to improve the growth trends.