New Delhi: Prime Minister Manmohan Singh, who now also holds the finance portfolio, on Wednesday, asked the Finance Ministry officials to create environment for investment in India.

The Deputy Chairman of Planning Commission Montek Singh Ahluwalia and PMEAC Chairman C Rangarajan were also present at the meeting to discuss slowing growth, high inflation and damp investor sentiment.

According to sources, Ahluwalia and Rangarajan separately briefed Singh about the economic situation.

Sources also said the Prime Minister was likely to meet in the evening with senior Finance Ministry officials including Finance Secretary R S Gujral, Economic Affairs Secretary R Gopalan, Financial Services Secretary D K Mittal and Chief Economic Advisor Kaushik Basu.

Singh, who himself is a renowned economist, has taken charge of the Finance Ministry at a time when the country's GDP growth rate has fallen to a 9-year low and the rupee is depreciating sharply.

He took charge of the finance portfolio on Tuesday following the resignation of Pranab Mukherjee, who is the UPA's candidate for the presidential election.

India's economic growth rate slipped to nine-year low of 6.5 percent in 2011-12 and current account deficit (CAD) has touched a high of 4 percent.

Inflation, meanwhile, was high at 7.55 percent in May.

Rupee is has plunged sharply in recent weeks especially on account of foreign fund outflows and gloomy investor sentiments. It has lost over 20 percent against the US dollar over the past few months.


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