Economic growth to revive in second half of current fiscal
New Delhi: Finance Minister P Chidambaram on Friday said that economic growth will revive in the second half of the current financial year. Measures taken by the government will yield results and help India achieve potential growth rate of 8 percent he said.
Government will not exceed the red line on fiscal deficit in 2013-14. "We will contain Current Account Deficit (CAD) at below USD 56 billion in 2013-14," Chidambaram said.
Stating that Banks should deal sternly with wilful defaulters, the finance minister said that bank should hold of those in trouble. He also said that new banking licences will be given in January next year