I’m confident of 9 pc growth: Chidambaram

FM Chidambaram exuded confidence of containing inflation in 2008-09 and said this would help ensure welfare of common man.

Finance Minister P Chidambaram exuded confidence of achieving a 9 per cent economic growth and containing inflation in 2008-09 and said this would help ensure overall welfare of common man.

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 9 per cent average growth,” the Finance Minister said.

“We will be able to mobilise the resources for meeting the growth target of 9 per cent,” he added.

Chidambaram said that economy has precisely moved to higher growth trajectory during the 5 years to 2007-08 in terms of GDP with an average growth rate of 8.7 per cent per annum during these 5 years.

“This indicates stability and sustainability,” he said.