Published on November 15, 2013 at 7:43
Confident of achieving 5 to 5.5 per cent growth in the current fiscal, Finance Minister P Chidambaram today said that the green shoots are visible and that the economy will revive, there will be an upturn in the second half of this year .Addressing bankers and economists at Bancon 2013, a flagship event of the Indian Banks’ Association, Chidambaram told the lenders to deal firmly with wilful defaulters, but handhold those who are reeling under the impact of the economic slowdown.The economic growth rate slipped to decade’s low of 5 per cent in 2012-13 and during the first quarter of current fiscal it stood at 4.4 per cent.Mr Chidambaram also pledged to meet the country’s fiscal and current account deficit targets, as fears of U.S. Federal Reserve reducing its stimulus fuel concern India’s vulnerability to foreign sell-offs.