India will not be hit by recession: Chidambaram

October 25th, 2008 - 10:01 pm ICT by IANS  

Sivaganga (Tamil Nadu), Oct 25 (IANS) Despite the global financial crisis, Finance Minister P. Chidambaram is hopeful that the Indian economy will sustain an 8 percent growth rate this year.”The government will take steps to ensure that global recession does not impact the Indian economy,” he said at the inauguration of the modernised spinning mill of the National Textile Corp at Kalaiyarkoil near here Saturday.

Reiterating that the global downturn will not affect the domestic economy, he said the central government was supporting sick industrial units both in the public and private sectors.

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