ADB lowers India growth forecast to 5.4% for 2012-13
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The government in the past couple of months has taken a host of initiatives which included allowing 51 per cent FDI in multi-brand retail and hiking foreign investment cap in the insurance and pension sector to 49 per cent.
Besides, it also allowed foreign airlines to pick up stake in domestic carriers, besides liberalising norms for information and broadcasting sector.
Further, the government had hiked diesel prices and also limited the number of subsidised LPG cylinder to six per year per family. It has identified a host of PSUs for disinvestment to meet the target of Rs 30,000 crore in the current fiscal.
These measures are expected to revive market confidence and restore growth momentum.
The government, along with the RBI, has also taken measures to control inflation. The WPI inflation, which had remained in double digit for most part of 2011, stood at 7.45 per cent in October. However, inflation still continues to remain above the RBI's comfort level of 5-6 per cent.
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