Budget 2013: Economy's slow growth a challenge, no reason for gloom: FM

Finance Minister P Chidambaram while presenting Union Budget 2013-14 in Parliament on Thursday admitted that the slow growth rate of Indian economy remains a challenge but added that he was confident that the country could bounce back.

"Our economy has also slowed after 2010 and getting back to 8 per cent growth rate is a challenge for the country. Achieving high growth is not a novelty, we can do it again," said Chidambaram. Pointing that only China and Indonesia are growing at a rate faster than India, Chidamabaram added that there is no reason for gloom.
"I seek support of this House and people of the country to navigate our economy in the time global economic crisis," he said.