Ghost of GAAR buried: Chidambaram
On revival of investor interest, he said, "People are coming to us for inquiries, approaching banks. There is a clear revival. I am not saying there is investment taking place but there is a revival of interest".
"There is revival of confidence that we 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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