December 3, 2013 9:22 AM

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2nd quarter growth rate indicates economy recovering : Chidambaram<br/>

Finance Minister P Chidambaram on Monday said, the country will clock a growth rate of 5 per cent in the current fiscal notwithstanding the current stress. Briefing reporters in New Delhi, Mr. Chidambarm said, the second quarter GDP growth rate indicates that the economy may be recovering and on a growth trajectory again. He said that the economy can be expected to show further improvement following recent improvement in manufacturing, better performance of exports and measures taken by the government. The Minister also expressed the confidence that the government will be able to achieve the disinvestment target of 40 thousand crore rupees and contain the fiscal deficit within 4.8 per cent of the GDP.Replying to queries on inflation, Mr. Chidambaram said, the main responsibility of taming food inflation lies with state governments.

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