Finance Minister Pranab Mukherjee is devastated to see that food inflation has reached at 8%, and according to him, it is totally unacceptable.

RBI has taken a step to control inflation, it has increased its repo rate and reverse repo rate by 50 basis points, which might help a bit to control the inflation. Earlier, it was expected that RBI would increase only 25 basis points, but it stunned its investors, by increasing interest rates by 50 basis points.

RBI has warned that it is not the end, and anti-inflationary actions would continue, irrespective of the fact that India- Asia’s third largest economy is passing through a rough course.

Pranab Mukherjee revealed that the year-end inflation would not be less than 6 to 7%.He also mentioned that cases like 2G spectrum would have no effect on India’s investment sector. Good news is that they have received, more than $7.9 billion foreign direct investment (FDI), which is almost double, than last year.

In a joint press conference meet with British Chancellor of Exchequer George Osborne, he had a dialogue session on the Indo-UK Economic and Financial Issue, where he announced that every effort is being done to make rules of FDI simple for overseas investors. And, the quantity of export from India would also double, in next three years.