By KUNA
New Delhi : Indian Finance Minister P Chidambaram Friday said that the country would attain a growth rate close to nine percent in the fiscal year 2007-08.
“The Indian economy is growing at about 8.6 percent and that has been the growth rate for the past four years now. In 2007-08, we will achieve a growth rate close to nine percent,” Chidambaram said today while addressing a business meeting organised by the Confederation of Indian Industry in Delhi.
He said that global oil prices, which have reached closed to USD 100 a barrel, would continue to have an impact on the prices of commodities and food.
“We must ensure that these prices remain in control and that inflation should not go out of hand,” he said.
“India cannot afford shocks, we cannot afford major turbulences in markets. Therefore India will continue to remain cautious,” the minister said.