Expressing optimism over the Indian economy and defending some of the tough decisions taken by the government in the recent past, Finance Minister P Chidambaram said some measures may have caused ‘immediate pain’ but they were necessary to contain the fiscal deficit to 3 per cent of GDP for the next three years.
While addressing the National Development Council meeting, Chidambaram said ‘it was imperative to contain the fiscal deficit by augmenting resources and controlling expenditure, some measures may cause immediate pain but this was necessary to ensure that the fiscal deficit came down to three per cent in the next three years.’
By adding further he said, Indian economy has strong fundamentals and factors such as high savings rate, growing services sector, a large middle-class, which continues to create demand and technical and qualified manpower and the youth, would persist to grow at a healthy rate, despite the global economies facing recession.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: