Amidst the speculation on the struggling economy and the ever rising prices, finance minister Mr. Pranab Mukherjee’s statement has been a welcome break. The minister has confidently claimed that in the next year, the GDP will be around 9-10%. He is confident that the figures will be achieved as they are already well within sight.
The finance ministers statement has caused the market to gain handsomely. This has also been fueled by the year end buying by fund managers. The BSE had opened up at 16,723.96 points in the morning but by the evening, the sensex had gained 539.11 points, closing at 17,231.11 points. This is a 3.23% increase in a single day. The National Stock Exchange rose from 4,985.85 points to 5,144.6 points, gaining 3.18%.
India has been eyeing the target of 9-10% growth for some time. Now that this growth rate is within reach, it is only right for both the government and the market to be jubilant.
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