India’s President, Pratibha Patil told a joint session of parliament ahead of Friday's federal budget, that the government will try to maintain high rates of economic growth while keeping the prices under check. Asia's third-largest economy is forecast to expand 8.7% in the year to end-March, near a four-year average but slowing from 9.6% the year before as firm interest rates designed to stem price pressures curb domestic demand.

"This performance is all the more creditable against the background of high international oil prices and rising commodity prices including food," Patil told lawmakers while flagging off the budget session of parliament. "It will continue to be the endeavor of my government to sustain growth while keeping prices under check." Much to the central bank's discomfort, inflation has been inching up in recent weeks, led higher by rising food and commodity prices.  

 

 

 

 

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