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Friday, March 12, 2010

India Finance Minister: Growth Not Driven Only By Government Spending

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By Mukesh Jagota
Dow Jones Newswires
     

    NEW DELHI -(Dow Jones)- The rebound in India's economic growth is not solely driven by higher government spending and the government has taken steps to cool off prices, Finance Minister Pranab Mukherjee said Friday.

    "We have taken steps to ease supply bottlenecks," Mukherjee said in the lower house of parliament.

    India's factory output has surged in recent months, suggesting a brisk turnaround, but inflationary pressure--led by high food prices--has also gripped the economy, raising concerns that aggressive policy tightening may derail growth.

    Copyright © 2009 Dow Jones Newswires

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