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2008-09
Finance Minister Urges Banks to
Facilitate Urban Poor with Loans
(Feb 4, 2008)
At a pre- budget meet, Finance Minister P Chidambaram called for banks
to be more liberal and lenient in case of passing loans to urban poor
section of society for education, housing, consumer goods and medical
needs, while keeping in mind the fact that their repayment history is
highly commendable in comparison to other categories of loan seekers.
As per the our finance minister P Chidambaram, fair amount of
investment in the public and private sectors will enhance the growth and
as per his speculations, India will keep on growing at a rate of 9% in
2008-09. In the present financial year as well (2007-08), India remains
in a state to attain 9% growth. According to him, the Indian economy in
the past four years managed to secure an average growth rate of 8.6%.
With Lok Sabha elections in the year 2009, finance minister will come
up with his budget in the month of February 2008. As the Lok Sabha
elections are due in 2009, he will present his last formal budget in
February 2008. Due to which, it is also said that there are chances of
this budget just being a populist one wherein Chidambaram can compromise
on its growth theme.
