It's UPA policies that led to 9 pc growth in '05-06: FM

FM on Wednesday attributed nine per cent economic growth rate in 2005-06 to the UPA Government's investment-friendly policies.

Finance Minister P Chidambaram on Wednesday attributed nine per cent economic growth rate in 2005-06 to the UPA Government's investment-friendly policies.

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It was UPA Government's policy, which promoted investment in the economy, yielding growth of 9 per cent for 2005-06, he told reporters in New Delhi.

The policy of the government has "boosted savings and investment and perhaps also pushed industry to be more productive and efficient," he said.

Official figures on Wednesday revised economic growth rate to 9 per cent against earlier estimate of 8.4 per cent for 2005-06 against 7.5 per cent for 2004-05.

"It (the revised figures) augurs well for 2006-07. Although, I must caution we will have to see what will be its impact on growth figures this year as the base figures have been revised."