Ghost of GAAR buried: Chidambaram

Jan 22 2013, 18:07 IST
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India has buried the India has buried the "ghost" of GAAR, Finance Minister P Chidambaram said. (Reuters)
SummaryFinance minister Chidambaram is also hopeful that fiscal deficit will be contained.

will stick to our promises to contain the fiscal deficit and lowering it by 0.6 percent every year by the next five years," he said.

The confidence is showing up even in the bottom rung of many companies. This quarter results of many companies are encouraging in some sectors demand for goods quite high. This means people are willing to buy more, he said.

"Next year we should see six and seven percent. If investment gathers pace, year after we should get back to our growth rate of eight percent. India's potential growth rate is above eight percent above. We have done it before. We will do it again," he added.

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