Priority should be given to high growth: Chidambaram
Kannur (Kerala), Apr 21: Finance Minister P Chidambaram on Sunday said that India would remain poor if priority is not given to high growth.
At
a
seminar
organised
by
the
District
Congress
Committee
here,
he
asserted
that
any
ideology,
which
undermines
expansion
of
the
economy,
should
be
rejected.
The
prevailing
general
price
rise
could
be
attributed
to
imported
goods.“We
can
control
prices
of
some
goods
but
cannot
roll
back
prices
of
essential
imported
goods.
Inflationary
expectations
had
led
to
increase
in
prices
of
construction
materials,
like
cement
and
steel," Chidambaram
said.
“Economic
growth
is
an
imperative
foundation
for
achieving
development,
social
justice
and
equity.
Hence
there
was
a
need
for
more
investments
to
make
India
among
the
four
richest
nations
of
the
world
by
2020,"
he
added.
ANI