Summary:
Kolkata: Bengal Finance minister Amit Mitra on Tuesday said chambers in the state were concerned about the possible stagflation in India due to low growth and high inflation. Referring to the ongoing vegetable inflation in India, he said the country's GDP was slipping at a time when neighbouring Bangladesh was moving ahead. Stagflation is an undesirable phenomenon which has persistently high inflation with high unemployment and stagnancy in demand. As per data, Mitra said, India's GDP growth rate is likely to be 4.6 per cent for the current financial year. The current 5 per cent growth rate is a major cause of concern for the chambers, the minister stated..