Manmohan Singh takes stock of Indian economy

New Delhi, June 27 (ANI): The Prime Minister, Dr. Manmohan Singh, took stock of the economy here on Wednesday along with Planning Commission Deputy Chairman Montek Singh Ahluwalia and PMEAC chairman C. Rangarajan.

According to reports, both Ahluwalia and Rangarajan briefed Dr. Singh on the present economic situation.

Dr. Singh, who is himself a renowned economist, took additional charge of the Finance Ministry on Tuesday following the resignation of Pranab Mukherjee from the Union Cabinet to contest the presidential poll.

Dr. Singh has taken charge of the Finance Ministry at a time when India's GDP growth rate has fallen to a nine-year low and the rupee is depreciating sharply.

The rupee was down 12 paise to 57 rupee 14 paise against the dollar today on persistent demand for the American currency from banks and importers.

The rupee, which had resumed lower at 57.06 rupee per dollar in its opening session, dropped further to a low 57.14 in late morning trade. (ANI)