Economy

Chidambaram outlines growth potential

Our Bureau Chennai | Updated on May 27, 2013 Published on May 27, 2013




India has all what it takes to grow at 5-6 per cent for the next several years. Thanks to its land mass, untapped resources, large young population with high aspirations that demand goods and services and entrepreneur class, the Indian economy has the potential to grow at this rate, “regardless of any government and ministers”, said Union Finance Minister P. Chidambaram.

Giving away the Shriram Sanlam awards for ‘Excellence in Financial Journalism’, at a function organised by the Shriram Group, here today, he said however, good and effective governance would help increasing the growth rate to 8-9 per cent. On top of it, Indians have a set of values, though it may appear to be eroded from time to time, and their nature to work hard, would facilitate this growth, he added.

This growth cannot be stopped for the next 30-40 years. It will grow just like the way China will, and no one can underestimate its growth potential. “All we need to do is to ensure money and time are being used effectively and projects are expedited,” he said.

Published on May 27, 2013
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