Govt confident of 9 pc economic growth: FM

Written by Agencies | New Delhi, January 31: | Updated: Jan 31 2008, 17:54pm hrs
Buoyed by the 9.6 per cent economic growth clocked during 2006/07, Finance Minister P Chidambaram on Thursday exuded confidence of close to nine per cent growth this year but held out the promise that government would make rapid adjustments depending upon global situation.

Happy over release of higher CSO figures for 2006/07 in the midst of fears over global economic slowdown, he said "we are maintaining a balance between inflation which is still below four per cent and growth which is well above eight per cent."

"My goal is to continue to maintain growth but at the same time the government reserves the right to make rapid adjustments depending upon the evolving international situation," he told a press conference.

Asked whether the adjustments would be monetary or fiscal measures, he said "we are not making policies and we are not taking administrative steps in a vacuum. We are doing so in a heightened uncertainties and we are making rapid adjustments."