Inflation: No quick fix, will take time to fix it, says Chidambaram

Finance Minister P. Chidambaram said that there are changes in the global perception about India, its tax policies and tax administration. He also asserted that India has prepared a better pitch for high growth.

Finance Minister further said that though India is going through a period of stress, the Govt. is confident of coming out of it and returning to high growth path.

Mr. Chidambaram also expressed hope that the country’s economic growth will climb to 6 per cent in 2014-15 and 7 per cent in 2015-16. He also said that there are no quick fixes for inflation and it will take some time to fix it.

Mr. Chidambaram further asserted that he will liberalise capital market and financial sector; unblock projects in next 5-5-1/2 months.