that the country is not comfortable with the recent GDP figures.
"We are not at all comfortable with the current growth. We want to go to the earlier growth numbers," he said, adding "to grow at minimum 8 per cent, to increase investments and to create jobs in the country, the investment rate must go to 38 per cent".
The Minister also urged the RBI to cut interest rates to boost investments.
"What is more important is investment, economic activities and job creation and for that easy availability of credit to industry is imperative and I hope the RBI will take a view soon," he said.
When asked whether the forthcoming winter session of Parliament will pass the government's decision to increase FDI cap in insurance sector, he said : "I hope that the session will be productive. We cannot continue with the situation where the highest forum of discussion, debate and decision making is sought to undermined".