Finance Minister says, government is continuously monitoring oil price situation and is confident to manage it. Talking to reporters on the sidelines of a function in New Delhi on Wednesday he expressed concern over the hike in the crude oil prices in international market due to turmoil in Egypt. He said Finance ministry is in constant touch with its counterpart in the Petroleum ministry on the situation and pointed out that India managed the situation when crude prices touch a record 147 dollars a barrel. Earlier, inaugurating a textile conclave Mr. Mukherjee hoped that India's economy will grow close to 8.75 per cent this fiscal. He said the textile industry has performed well over a period of time and contributed significantly to India's exports. Mr Mukherjee said the industry has also become instrumental in providing direct employment to 35 million people in rural and urban areas. The Minister said that the need of the hour is to accelerate and sustain the growth of the textile sector and improve banking and financial services in rural areas for inclusive growth of India's economy.