India's new finance minister vows to 'restart growth'
Published on Aug 6, 2012 7:04 PM
NEW DELHI (AFP) - India's new pro-market finance minister on Monday pledged to take steps to restore foreign investors' faith in Asia's third-largest economy and "restart the growth engine".
Mr P. Chidambaram, in his first public statement since taking over the job last week, said India's economy faced a string of challenges from stubborn inflation to high interest rates and a hefty fiscal deficit.
But "with sound policies, good governance and effective implementation, we will be able to overcome these challenges," said Mr Chidambaram, now in his third stint as finance minister.
In a wide-ranging policy statement, Mr Chidambaram said he believed there was "enormous goodwill" for India around the world and that most people "continue to keep faith with the India growth story.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!