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FM: Indian economic growth to slow to 8.5%

07-21-2010 09:01 BJT

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India's Finance Minister Pranab Mukherjee has made some predictions for the local economy. He expects GDP growth to slow to 8.5 percent this fiscal year, because of uncertainties in the international economy.

He also said Indian banks would deliver on plans for financial inclusion offering services at low cost, to disadvantaged and low-income groups. Mukherjee noted that for financial inclusion to work, it would have to connect financial and non-financial sectors in order to make them productive participants in economic growth.

Pranab Mukherjee, Indian Finance Minister said "Financial inclusion is a key determinant of sustainable and inclusive growth. It can unlock the vast potentials of savings, consumption and investment propensity of the poorer sections of our society. It provides credit to meet the contingent expenses and undertake income-generating activities."

Editor:Xiong Qu |Source: CNTV.CN

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