expect GDP to grow at above 5%. I also have my economic division, which expects GDP growth at 5-5.5%," he said.
He also said that foreign investors have retained their confidence in the Indian economy. The government is resolved to extend full support to new investment proposals and that if anyone encounters any difficulty, it will be addressed, he said. Out of a total 344 stalled projects, the government has so far cleared 99 projects that entail a collective investment of Rs 3.67 lakh crore in the last six months. The 16.8% growth in gross bank credit also indicated that demand for funds is picking up. Chidambaram said the RBI has now withdrawn all liquidity tightening measures and what is in force now was a normal monetary policy.