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Finance Minister P Chidambaram is addressing a press conference at the Congress office.
Here are the highlights from the conference:
- The year will end more or less as we planned
- We will end the year with a fiscal deficit of 4.8 per cent as planned
- Our reserves have crossed $300 billion as of today
- Current account deficit is now likely to be much smaller, perhaps about $35 billion
- What we set out to do after my return to the Finance Ministry has been substantially accomplished
- Economy more stable, no one talks about a downgrade anymore
- We have contracted the fiscal deficit substantially, we have done better than the plan
- Current account deficit also contracted substantially and we have also added to reserves
- We have also moderated inflation
- Not saying we have tamed inflation, but we have definitely moderated inflation
- Economy is far more stable than 20 months ago, what we feared may have happened, has not happened
- I can only see steady growth provided the next government follows the 10-pont agenda outlined in my interim budget speech
- The two years that recorded the lowest growth was 2000-2001 under Yashwant Sinha as Finance Minister
- Yashwant Sinha is a distant memory in people's mind and I hope he remains that
- Hope I can hand over the economy to another firm hand
- Will consider relaxation on gold regulations after the RBI monetary policy is announced tomorrow
- The unemployment rate is lower than in the NDA regime
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