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The Finance Minister, Mr Pranab Mukherjee, today expressed confidence that Indian economy would expand more than 7.5 per cent in the current fiscal.
The Indian economy grew at its weakest pace in over two years in the recent September quarter at 6.9 per cent, much lower than the GDP growth of 8.4 per cent seen in same quarter last year.
India needs reforms to improve economic efficiency and boost growth, Mr Mukherjee told a conference here on Friday. Earlier this week, the Finance Minister had said that the economy would grow 7.3% this fiscal.
The Government should not miss any opportunity to barrel through reforms that promise to remove millions out of poverty, Mr Mukherjee said. On foreign direct investment in retail, Mr Mukherjee said that he was "hopeful to persuade" those who are hesitant to accept FDI in retail.
"The process is on to resolve the political logjam over retail FDI,” he said.
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