India will return to 8% growth: Chidambaram

KOLKATA: Displaying confidence in Indian economy, Union Home Minister P Chidambaram has stated that India will make a come back to the above 8% growth soon.

Chidambaram said, “The year 2011-12 has been a difficult year when our growth declined to 6.7 percent. We think we are identifying the causes for the decline and will take a number of steps to address those causes. I am confident that in 2012-13, the rebound will start and soon we will be back to the 8 percent plus growth rate.”

The Minister also said that the high propensity of the Indians will boost the growth of the economy.

He also said that although Indian growth has declined along with the global financial crisis, but Centre did not lower or scrap any of the developmental programmes run by it.

The Indian growth story is reeling under pressure due to surging inflation, falling rupee and perception of policy paralysis.