Finance minister P Chidambaram has expressed confidence the country would become the second-largest economy in the world. He also said the country needs to grow at 9% and needs investmentin industry and agriculture.
We cant be satisfied with a 3% growth like the EU countries. We need to grow at 9% rate. There is also a need to enroll more students in the institutions of higher learning, he said while inaugurating the new administrative block in Cardamom Planters Association College at Bodinayakanur near here on Monday.
He said although poverty had not been eradicated, the level of poverty had come down. Money alone doesnt decide whether a man is rich or poor. If a person does not get proper drinking water, housing facility, road, school or healthcare, he can be called poor.
The country needed capital in business, industry and agriculture, he said, adding we do not need just the theory but also investments as only that would lead to rapid growth.
Investment is also required to produce research scholars, technocrats, doctors and engineers.Referring to the appeal of the cardamom growers for steps to protect its cultivation, he said efforts should be taken to fill the yield gap.