Expect to raise investment level to 38.5% of GDP -
August 6th, 2012
Newly appointed Finance Minister P Chidambaram has chalked a definite plan to beat inflation, boost economy and attract foreign investment to the Indian shores. Addressing media for the first time after taking over the finance ministry, Chidambaram said that the government is expecting to raise investment level to 38.5% of gross domestic product (GDP).
He also assured that the government will modify policies to regain investor confidence. Adding the government will unveil path of fiscal consolidation,
Chidambaram said that it will work with RBI to ensure that inflation is
moderated in medium term.