The Hindu : National : Chidambaram confident of achieving 9 % growth

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Chidambaram confident of achieving 9 % growth

S. Ganesan

TIRUCHI: Despite the slight slowdown this fiscal, it will be possible for the country to bounce back to 9 per cent economic growth rate in the next financial year, Union Home Minister P. Chidambaram observed here on Saturday.

The global economic meltdown notwithstanding, the country was moving towards a growth rate of 7.1 per cent this year. Over the past four years, it had achieved an average growth rate of 9 per cent, against the average of 5.8 per cent during the National Democratic Alliance regime, he said.Mr. Chidambaram was inaugurating the new integrated terminal building of the Tiruchi airport, built at a cost of about Rs.80 crore by the Airports Authority of India. The growth surge under the United Progressive Alliance had made India the second fastest growing economy in the world. Infrastructure, telecommunication, civil aviation and other sectors had witnessed rapid and tangible development.

“It is true that there is still poverty and there are about 25 crore poor people in the country. But, nobody can deny that economic growth has contributed to a substantial improvement in the living standards of nearly 85 crore people in the country,” he said.The new terminal, Mr.Chidambaram said, was a felt need. The airport’s runway would be extended further to 12,000 ft from 8,000 ft. Allaying fears of local residents over land acquisition, he said these minor problems would be sorted out. Even if a few people were dislocated, they would be fully compensated and rehabilitated.

Union Minister for Communication and Information Technology A.Raja observed that the state-of-the-art terminal would serve well the multi-product Special Economic Zone coming up at Perambalur.

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