GDP growth rate satisfactory: Pranab

HALDIA - Finance Minister Pranab Mukherjee Saturday said he would be satisfied with 8.5-8.7 percent GDP growth this year but would target a growth of 9 percent next year.

“We have been able to control the GDP downslide, and now it is increasing. In the last quarter, it has grown 8.9 percent. But I am a bit conservative,” the minister said here.

“I would be happy with 8.5 to 8.7 percent this year. However, next year, I want a GDP growth of 9 percent.”

Mukherjee spoke after dedicating a new hydrocracker unit and capacity expansion of Indian Oil’s Haldia refinery in East Midnapore district.

“Many people ask what will happen with GDP. We are now targeting double digit growth in coming years. Because more GDP means more income, more work. It means giving Rs.60,000 crore of agricultural loan to four crore farmers in the country,” he said.

Mukherjee Saturady dedicated to the nation the refinery’s Once Through Hydrocracker Unit (OHCU) and capacity expansion from six to seven million metric tonnes per year.

Petroleum and Natural Gas Minister Murali Deora, who also attended the function, said the ministry was planning to increase the customer base of LPG connections from 38 percent to at least 60 percent by 2015.