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Friday, October 31, 2008
NEW DELHI: The Indian economy would ...
Economy will grow at 7 %, no job cuts: FM -
October 31st, 2008
Economy will grow at 7 %, no job cuts: FM
Friday, October 31, 2008
NEW DELHI: The Indian economy would grow at 7 percent despite the global economic meltdown but this would not mean a reduction in existing job levels, Finance P Chidambaram said on Friday.
"The RBI (Reserve Bank of India) estimates that growth (in fiscal 2008-09) would be at 7 percent. I think it would be at 7.5 percent but definitely would not be lower than 7 percent," Chidambaram said here.
"Growth at 9 percent (as was originally anticipated) would signal rapid creation of jobs. Growth at a lower rate does not imply a destructive employment situation," the finance minister maintained.
"It is for this reason that I disagree with a (industry lobby) Assocham (Associated Chambers of Commerce and Industry) study (saying that Indian corporates would cut jobs by 25 percent due to the global financial crisis)," Chidambaram said.
"The pace of creating jobs might slow down, but even at 7 percent, jobs will be created," he added.
Responding to a question on the impact of the crisis on India's exports, Chidambaram said he couldn't "elaborate" on this.
Asked what India would bring to the table at the G-20 meeting US President George Bush has called in Washington next month to deal with the financial crisis, the finance minister replied: "We are formulating our response."
Source : DNA India
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Re: Economy will grow at 7 %, no job cuts: FM -
October 31st, 2008
no job cuts!!!! >>>>doesnt seem true enough....
ROshCRazy..
I DonT FaIL...I sUCCeed aT finDinG wHT doESnt WOrK..!! To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.
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Re: Economy will grow at 7 %, no job cuts: FM -
October 31st, 2008
this is all time style of our FM who keeps on saying that our stock exchnages will do progress one day and keep faith in us......... But not much actually happens for economic growth of India............
this time is utter non-sense and if no job cuts, then i m sure companies gonna suffer for it and then Indian nation also.......
I dont knw why man like P.Chidambaram and Manmohan Singh gives such fake statements to media !!!
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Economy will grow at 7 %, no job cuts: FM -
October 31st, 2008
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Re: Economy will grow at 7 %, no job cuts: FM -
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