Finance Minister P Chidambaram today said he is confident that country will achieve 5-5.5 per cent growth in the current fiscal as the green shoots are visible. Addressing bankers and economists at the flagship event of the Indian Banks' Association in Mumbai today, the Finance Minister expressed hope that economic growth will revive in the second half of the current financial year. He said measures taken by the government will help the economy achieve the potential growth rate of 8 per cent.

Chidambaram told banks to deal sternly with willful defaulters, but handhold those who are reeling under the impact of economic slowdown. He added that inflation, especially the food prices, continued to remain a challenge for the government. Referring to the Current Account Deficit, CAD, he said that it will be contained at below 56 billion USD in 2013-14.