Amidst widening Current Account deficit (CAD) and depreciating Rupee, Finance Minister P Chidambaram has expressed his hopes that Indian economy will grow at 6% or slightly more for the current fiscal year to March 2014, which is more of less in line with Prime Minister's Economic Advisory Council (PMEAC)’s ballpark figure of 6.4%.
The Finance Minister besides underscoring number of measures taken by the government for arresting Rupee’s fall, also highlighted the measures taken on the economy front in the last few months, including improving exports and coal and gas production. He highlighted that government has significantly hiked its investment in the public sector enterprise by investing Rs 1.15 lakh crore in PSUs in 2012-13. Chidambaram added that another round of telecom spectrum auction will be held shortly.
Chidambaram also expressed his hopes of parliament approving the real estate regulator and land acquisition bills in the monsoon session of Parliament, which is due to begin in the first week of August.
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