February 8, 2014 9:03 PM

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FinMin: Economic growth rate for current financial year not to be less than 5%

Finance Minister says, the economic growth rate for the current financial year will not less than 5 per cent. Chidambaram was commenting on the Central Statistics Office's projection of 4.9 per cent growth.Growth in 2012-13 slipped to a decade-low of 4.5 per cent. The economy expanded 4.6 per cent in the first half (April-September) of this financial year.In a statement Chidambaram said he is confident that growth in 2014-15 will show a significant improvement over 2013-14.The minister said he is particularly happy that agriculture growth has been estimated at 4.6 per cent for 2013-14. It is a vindication of the policies pursued by the UPA government, including higher minimum support price, subsidy to fertilisers, higher credit to farmers and provision of quality seeds.

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