On Monday, the Indian President, Pratibha Patil said that India's economy will escalate in the coming years as it has emerged out of the global financial crisis.

She said that the economy is expected to grow 7.5% in the present financial year ending in March and the Government has set a target of 8% in the next fiscal year and 9% in 2011/12.

She emphasized that the Government will take steps to protect the poor from the impact of food inflation.

"It is imperative that as our economy grows apace, the disadvantaged sections of society be made part of the Indian success story", Patil said in an opening speech of the budget session of India's parliament.

Asia's third-largest economy is improving, with factory output growing, but food prices are increasing at the fastest pace in 11 years.

Patil said, "In the longer term, our food security can be ensured only through sustained efforts at increasing agricultural productivity combined with a comprehensive reform of the public distribution system and open market intervention".

Food inflation has led to protests by the opposition but Congress is not intimidated and is as confident as ever to take everything under control.

The Prime Minister's Economic Advisory council last week said increasing food prices will pave way to broader inflation and endanger the economic recovery.