Finance Minister P Chidambaram on Thursday exuded confidence of achieving
a nine per cent economic growth and containing inflation in 2008-09 and said
this would help ensure overall welfare of common man.
Speaking to reporters after
tabling Economic Survey 2007-08 in the Parliament, Chidambaram said that he was
confident of achieving 11th Plan target of 9 per cent growth.
With the better targeting of
government reserves and increase in quality, we can ensure the overall welfare
of the common man in terms of both private consumption and supply of public
goods, he said.
"Given the
solid foundation of domestic investment and savings, we are confident of meeting
the 11th Plan target of nine per cent average growth," the Finance Minister
said.
"We will be able to
mobilise the resources for meeting the growth target of nine per cent," he
added.
Chidambaram said that
economy has precisely moved to higher growth trajectory during the five years to
2007-08 in terms of GDP with an average growth rate of 8.7 per cent per annum
during these five years.
"This
indicates stability and sustainability," he said.
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