This Article is From Jun 04, 2012

Highlights: Pranab Mukherjee on Congress Working Committee meeting, petrol prices, state of economy

Highlights: Pranab Mukherjee on Congress Working Committee meeting, petrol prices, state of economy
Finance Minister Pranab Mukherjee on Monday said the government has to address the high fiscal deficit, and that the country needs to return to a high growth path.

Here are the highlights of his speech after the Congress Working Committee meeting:

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  • Export, import and current account deficit has to be reduced
  • On national elections we take a common approach, and in state elections we take an approach relevant to the state
  • The oldest political party in the country has to take up the challenge; the situation is difficult, but we will be able to retrieve the situation
  • Fortunately, international prices have started coming down, Brent Crude has come down below $100/ barrel
  • I explained the situation in the overall world economy
  • There are four major focus areas - Fiscal deficit, Current account defict and higher growth trajectory. I think comparison between 1990 and 2012 is not correct.
  • In an economy, and a nation, there are ups and downs - but no reason to  believe that we are going back to a situation that was in 1990.
  • Petroleum prices were discussed, naturally nobody is happy. I explained to members of CWC that I have writer to various Chief Ministers.