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The Prime Minister's Economic Advisory Council (PMEAC) on Friday said it will stick to its 8.2 per cent GDP growth projection for 2011-12 despite the US downgrade and its fallout on the global economy.

Hefty refunds pulled down net direct tax collections by 8.14 per cent to Rs 78,679 crore during the April-July period of this fiscal.
Finance Minister Pranab Mukherjee hopes international commodity prices would decline, helping the government tame inflation and cut subsidies.