Kolkata: At a time when there are apprehensions of further rate hikes by the RBI and the growth figures are on a downward curve, home minister P Chidambaram on Wednesday said that India cannot afford to grow below 8%. His statement comes days after Union finance minister Pranab Mukherjee said that there are signs that growth is being affected by monetary tightening. Chidambaram said, “ without growth we cannot build capacities. The ball is growth and we have to keep our eyes on the ball. We cannot afford to grow at anything less than 8%.” Earlier in July, industrial growth in the country fell to a 21-month low of 3.3% against 9.9% in the same month the previous year.
FE
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