New Delhi: finance Minister P Chidambaram said today, India economic growth of between 5-5.5 per cent in this financial year. India’s growth slowed to 5 per cent in the 2012-13 fiscal years, its worst performance since it grew by 3.9 per cent in 2002-03 and many economists have said that growth in the current fiscal may slip below 5 per cent.
P Chidambaram said while speaking at a bankers’ conference, I am confident that the green shoots that are visible here and there will multiply and that the economy will revive, there will be an upturn in the second half of this year and It’s quite possible that the estimates made by the Reserve Bank (of India) or the Prime Minister’s economic advisory council or the government about growth being between 5 and 5.5 per cent will be realized. P Chidambaram also pledged to meet the country’s fiscal and current account deficit targets, as fears of U.S. Federal Reserve reducing its stimulus fuel concern India’s vulnerability to foreign sell-offs.
Bureau Report
Leave a Reply