The growth of economy in the current year is likely to be seven per cent, Pranab Mukherjee, the External Affairs Minister, who is also holding the charge of the Finance Ministry, said in New Delhi.
"The two stimulus packages have started working...that has been reiterated by the Reserve Bank Governor while announcing the (third-quarterly review of the) credit policy", Mukherjee said after his first meeting with P K Bansal, Minister of State for Finance and senior officials of the ministry.
The senior officials of the finance ministry briefed Mukherjee on various issues regarding the preparation for interim budget, which is to be presented next month in Parliament. Mukherjee said, "though the economy will not grow at 8.9 or 8.8 per cent, it will grow around 7 per cent. There is no doubt about that ... Indian economy is sound and will bounce back". However, RBI has projected a growth of 7% for the current fiscal in its review of the credit policy, which was lower from 7.5 to 8 percent earlier.
Mukherjee took charge of the Finance Ministry as the Prime Minister Manmohan Singh, who was looking after the finance portfolio, has gone through a heart surgery at the All-Indian Institute of Medical Science.
"The two stimulus packages have started working...that has been reiterated by the Reserve Bank Governor while announcing the (third-quarterly review of the) credit policy", Mukherjee said after his first meeting with P K Bansal, Minister of State for Finance and senior officials of the ministry.
The senior officials of the finance ministry briefed Mukherjee on various issues regarding the preparation for interim budget, which is to be presented next month in Parliament. Mukherjee said, "though the economy will not grow at 8.9 or 8.8 per cent, it will grow around 7 per cent. There is no doubt about that ... Indian economy is sound and will bounce back". However, RBI has projected a growth of 7% for the current fiscal in its review of the credit policy, which was lower from 7.5 to 8 percent earlier.
Mukherjee took charge of the Finance Ministry as the Prime Minister Manmohan Singh, who was looking after the finance portfolio, has gone through a heart surgery at the All-Indian Institute of Medical Science.
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