More schemes like loan waiver possible if growth reaches 10%
The FM has exuded confidence that more schemes like loan waiver were possible if the economic growth reached 10 pc. World news & trends | Biz week in pics
By PTI |
COIMBATORE: Finance Minister P Chidambaram on Saturday exuded confidence that more schemes like loan waiver to the farmers and national rural employment scheme were possible if the economic growth of the country reached 10 per cent.
Being a developing nation there could be up and downs and imbalances in India's economy which could be made good by sustaining the growth, Chidambaram said while inaugurating 'Palladam Hitech Weaving Park', about 30 kms from Coimbatore.
Being a developing nation there could be up and downs and imbalances in India's economy which could be made good by sustaining the growth, Chidambaram said while inaugurating 'Palladam Hitech Weaving Park', about 30 kms from Coimbatore.
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Though certain political parties,particularly those who wanted waiver of farmers loans, were sceptical about NREG scheme of Rs 12,000 to Rs 18 000 crore and Rs 60,000 crore farmers loan waiver scheme, the government can do more such things if the growth reached 10 per cent, he said.
On several issues raised by ministers from Tamil Nadu and Union Minister of Textile Shankarsing Vaghela and his Deputy EVKS Elangovan at the function, Chidambaram said that the crisis in the textile and engineering sector was temporary phenomenon and a business cycle which the industrialists should face bravely.
Taking a dig at financial experts and analysts on commenting on rupee appreciation against US dollar, Chidambaram said they were criticising when rupee had depreciated and now singing the same tune when it was appreciating which was contradictory in nature.
The government was paying special attention to the textile sector which was the largest employment generator after agriculture sector, Chidambaram said.
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