Economy to grow close to 8% in FY09: Chidambaram

New Delhi, Aug 13 (UNI) Agreeing with the projection made by the Prime Minister's Economic Advisory Council, Finance Minister P Chidambaram today said the Indian economy was expected to grow close to eight per cent in fiscal 2008-09.

Mr Chidambaram's remark came when he was asked to comment on the Prime Minister's panels projection of 7.7 per cent in 2008-09 from the previous estimate of 8.0 to 8.5 per cent.

"If the Prime Minister's Economic Advisory Councils projection is for 7.7 per cent growth rate, then it must be quite close to that number", he said.

Mr Chidambaram said the Public Sector Banks have not witnessed any slowdown in loan growth.

The Finance Minister was speaking to journalists after meeting the Chiefs of Public Sector Banks.

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