FM says economy to grow close to 8% in 2008/09
Finance
Minister P Chidambaram today, 29 August 2008, said the economy should
grow close to 8% in the fiscal year ending March 2009, and the
government will meet its fiscal deficit responsibility targets.
The
gross domestic product (GDP) grew 7.9% in the June 2008 quarter from a
year earlier, easing from the previous quarter's 8.8% rise as
industrial activity slowed due to monetary tightening. The GDP growth
in the first quarter of the current fiscal year was lower than market
expectations of a rise of a little above 8%.
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