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India can't afford to grow at less than 8 pct: Chidambaram
August 27, 2013 / 12:19 PM / 4 years ago

India can't afford to grow at less than 8 pct: Chidambaram

NEW DELHI (Reuters) - India cannot afford to grow at less than 8 percent per year and needs more reforms to revive growth, Finance Minister P. Chidambaram told parliament on Tuesday during a debate on the state of the country’s economy.

Finance Minister Palaniappan Chidambaram waits for the arrival of Japan's Prime Minister Shinzo Abe before their meeting at Abe's official residence in Tokyo April 1, 2013. REUTERS/Issei Kato/Files

Asia’s third-largest economy has struggled to lift itself out the worst economic slump in a decade. The government is trying to introduce a slew of reforms, including freeing up foreign investment in the insurance, pension and defence sectors, and simplifying tax laws to spur investment.

Reporting by Manoj Kumar; Editing by Subhranshu Sahu

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