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Economy and Politics

Finance Minister Pranab Mukherjee says the government was committed to take all steps to moderate price rise.

 
 
Prime Minister Manmohan Singh says high growth rate is vital to fund ambitious social development schemes.
Forex dealers said dollar's gains against other Asian currencies along with demand for the US dollar from importers put pressure on the Indian currency.
At the Interbank Foreign Exchange, the Indian currency opened slightly higher at Rs 44.67/68 a dollar, before quoting at Rs 44.74/75 a dollar at 10.30 am.
 
 
The rupee closed down by 13.50 paise at a three-week low of 45.38/39 against the US currency after a steep fall in equity markets amid capital outflows.
It is an area of concern, the finance minister said after the government's weekly data showed that the food inflation kept climbing for the fifth straight week.
Forex dealers said besides the American currency's gains against other Asian currencies, weak opening on the stock market also kept pressure on the Indian rupee.
During the first eight months of 2010-11, India received FDI inflows worth $14.02 billion, a decline of 27.4 per cent over the corresponding period of previous year.
With steel makers going in for another round of price increase in the new year the stage appears to be set for the overall headline inflation to move up.
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