India to borrow more for economic growth: FM

Indian Finance Minister Pranab Mukherjee on Saturday said the government will borrow more and spend more to inject growth into the economy to overcome global meltdown. The finance ministry said on July 02 that growth could rise to 7 per cent this year -- towards the high end of the range of private forecasts -- and subsequently increase to 8.5 to 9 per cent if the government adopted sweeping reforms and accelerated infrastructure development.