Finance Minister Pranab Mukherjee is easily the most sought after man in India today. After delivering his Union Budget 2012 in Parliament, he tells CNBC-TV18 that as far as petrol prices are concerned, these are decisions taken by the executive.
Mukherjee says he has chosen to take the conservative route by pegging fiscal deficit at 5.1% of GDP growth. So, for now, global events such as those stemming from the Middle East are not impacting India in a way which could see us slip into any macro economic crisis.
While he does acknowledge the precarious position that India is in, he says there is no need to panic. High inflationary pressures and the current account deficit do not have to be linked to growth, he adds. Also Read: Budget 2012: Pranab Mukherjee's 1st exclusive interview after speech
The challenges to accelerate India
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