Posted on: 12:49 PM IST Feb 28, 2008
New Delhi: Finance Minister P Chidambaram on Thursday exuded confidence of achieving a nine per cent economic growth and containing inflation in 2008-09 and said this would help ensure overall welfare of common man.
Speaking to reporters after tabling the Economic Survey 2007-08 in Parliament, Chidambaram said that he was confident of achieving 11th Plan target of nine per cent growth.
"With 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 average growth," the Finance Minister said.
"We will be able to mobilise the resources for meeting the growth target," he added.
Chidambaram said that the economy has precisely moved to higher growth trajectory during the five years to 2007-08 in terms of GDP with an average growth rate of 8.7 per cent per annum during these five years.
"This indicates stability and sustainability," he said.