Finance Minister Pranab Mukherjee faces a tough task of reining in inflation while keeping the economy on a high-growth path when he presents his annual budget for 2011-12 in Parliament on February 28.
CNBC-TV18's Latha Venkatesh spoke to Lord Meghnad Desai, professor emeritus, LSE; Chetan Ahya, managing director of Morgan Stanley and Eswar Prasad, senior professor (trade policy) at Cornell University to find out their opinion of the macroeconomic priorities that should inform this year's budget. Below is a verbatim transcript of the interview. Also watch the video. Q: Inflation is arguably the biggest problem today. You argue in your report that fiscal prolificacy is more responsible for the inflation than the loose monetary policy. Why do you say that? Ahya: Absolutely. That is really the biggest issue as far as IndiaDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
