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Govt aims to revert GDP to 9%:FM
July, 13th 2010

Finance Minister Pranab Mukherjee has said that the government is trying hard to revert Indias gross domestic product (GDP) to 9% on a priority basis, reports Media.

Jotting down the tasks that the government has undertaken Mukherjee said that the next step will be to find means to cross double digit growth barrier. He pointed out that industrial sector has regained momentum after facing the global meltdown.

Mukherjee elaborated that goods and service tax (GST) and changes to direct tax code (DTC) are important measures to promote enterprise. He said that effective savings mobilisation and their seamless channelising into investment is the key to sustain and accelerate growth.

On India being an attractive market in the global perspective, Mukherjee said large chunk of Indian economy is yet to be attracted to the market. On an optimistic note, he said that exposure to market may provide small and marginal savers an opportunity to participate in growth. To encourage active participation, financial products should be widely promoted and tailor made for easy use.

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