`Indications of an investment boom'

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Mr P. Chidambaram
Mr P. Chidambaram

Our Bureau

New Delhi, Oct. 25

THE Finance Minister, Mr P. Chidambaram, on Tuesday said that there were indications of an "investment boom" in the country on the back of a buoyant economy.

"There are indications of an investment boom supported by buoyant growth in credit as well as equity finance," Mr Chidambaram said, while reacting to the RBI's mid-term review of the credit policy.

The Finance Minister also said that the Government and RBI would undertake measures to keep inflation under control.

"To contain the upside risk to price stability, strong vigil is being maintained by both the Government and the RBI," Mr Chidambaram said.

He described the RBI decision to hike the repo and reverse repo rates by 25 basis points as "a measured step towards moderate monetary tightening."

(This article was published in the Business Line print edition dated October 26, 2005)
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