rediff.com

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  

Rediff News  All News 
Rediff.com  » Business » Economic crisis may be of govt making: Chidambaram

Economic crisis may be of govt making: Chidambaram

Last updated on: July 10, 2012 20:37 IST

Economic crisis may be of govt making: Chidambaram

     Next

Next

Home Minister P Chidambaram on Tuesday said while some of the difficulties on the economic front may be of government's making, most of them are due to international situation.

"UPA-II has gone through some difficulties. Some of the difficulties may be of our own making. Most of the difficulties (on the economic front) are because of the international situation," he said in an address to Congress workers and leaders at Karnataka Pradesh Congress Committee office.

Chidambaram, himself a former Finance Minister, said UPA-I had a splendid record (on the economic front) and the GDP grew by an average 8.5 per cent in those five years.

Click NEXT to read more...


Image: Home Minister P Chidambaram.


     Next

Economic crisis may be of govt making: Chidambaram

Prev     Next
Prev

Next

He said 2011-12 was a bad year during which the country achieved a GDP growth of 6.5 per cent which is "not enough" for a developing country like India where millions of people are in poverty.

"We need to grow at a faster rate. We need to create more jobs," he said, adding India needs to grow at over 8 per cent or perhaps at 9 per cent.

Click NEXT to read more...



Photographs: Adnan Abidi/Reuters.
Tags: India , GDP

Prev     Next

Economic crisis may be of govt making: Chidambaram

Prev     More
Prev

More

Despite the difficulties, Chidambaram said, the UPA government has identified the problems and Prime Minister Manmohan Singh, who also holds the finance portfolio, is addressing these issues.          

"We know the problems. We are addressing the problems," he said, adding he is absolutely confident that the country would come out of the low growth phase and get back to the high growth trajectory.





Prev     More
© Copyright 2013 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.