Chidambram pats UPA for fine economic performances

Patting the Dr. Manmohan Singh led United Progressive Alliance (UPA) for maintaining an above average economic performance over the last two years, Finance Minister P. Chidambram on Friday asserted that the UPA government would be able to maintain a GDP growth rate of 8 percent during its tenure.

Speaking to reporters over the present state of the country’s economy, Chidambram said, “I am confident that the growth in Q1 and Q2 of 2006-07 would also be near 8 percent, thus helping us maintain the average growth rate of 8 percent achieved so far during the tenure of the UPA government”.

The minister attributed the robust performance of the economy to the UPA government’s “commitment to remain on the course of reforms with a human face, liberalisation and calibrated integration with the world economy”.

Chidambram also said that the country’s demography is now paying its dividend with younger labour force contributing to the growth of the economy by being gainfully employed in production.

Regarding the irritant inflation that is hovering above 5 percent, Chidambram assured that it would try its level best to contain it within 4.5 percent -5 percent bracket and would try to bring down it below 4 percent level in due course of time.

According to the latest estimates, Foreign Direct Investment (FDI) inflows during 2005-06 were US dollar 5,548 million, which is a rise of 72 percent in dollar terms.

Article Source: http://www.share.onlypunjab.com

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