Cannot read configuration file due to insufficient permissions while publish web pages in IIS 7.5 Windows 7 64 bit

Cannot read configuration file due to insufficient permissions while
publish web pages in IIS 7.5 Windows 7 64 bit

I am encountering Cannot read configuration file due to insufficient
permissions while publish web pages in IIS 7.5 Windows 7 64 bit. I
checked, IIS_USR has all the rights except full control even then I am
getting this error. I am trying to publish pages that are in ASP.NET C#.
Can some one help me on this ?