February 9, 2013 9:26 PM

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Economy growth likely to be 5.5% in 2012-13: Chidambaram

Union finance minister P. Chidambaram said that the Government is confident to achieve an economic growth closer to 5.5 percent in the fiscal year 2012-13.He said in Mumbai that though the Central Statistics Office has projected 5 percent growth, Indian economy it will come out to reach to the high growth path successfully.He said the economy will climb back to the growth rate between 6 and 7 percent by the next year.Addressing the Board of Directors of the banks at the State bank of India headquarters in Mumbai, he asked the banks to improve their operational efficiency to bring down the interest rates and pass on the benefit to customers.He said low interest rates will boost the economic growth. He inaugurated 101 branches of the SBI, across 14 states, in a virtual way.

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