{"id":5545,"date":"2008-11-01T01:48:41","date_gmt":"2008-11-01T01:48:41","guid":{"rendered":"http:\/\/151.106.38.4\/2008\/11\/01\/economy-will-grow-at-7-no-job-cuts-fm\/"},"modified":"2008-11-01T01:48:41","modified_gmt":"2008-11-01T01:48:41","slug":"economy-will-grow-at-7-no-job-cuts-fm","status":"publish","type":"post","link":"https:\/\/nagalandpost.net\/index.php\/2008\/11\/01\/economy-will-grow-at-7-no-job-cuts-fm\/","title":{"rendered":"Economy will grow at 7 %, no job cuts: FM"},"content":{"rendered":"<p><img src=\/old_site\/>The Indian economy would grow at 7 % despite the global economic meltdown but this would not mean a reduction in existing job levels, Finance P Chidambaram said on Friday.<br \/>\n&#8220;The RBI (Reserve Bank of India) estimates that growth (in fiscal 2008-09) would be at 7 %. I think it would be at 7.5 % but definitely would not be lower than 7 %,&#8221; Chidambaram said here.<br \/>\n&#8220;Growth at 9 % (as was originally anticipated) would signal rapid creation of jobs. Growth at a lower rate does not imply a destructive employment situation,&#8221; the finance minister maintained.<br \/>\n&#8220;It is for this reason that I disagree with a (industry lobby) Assocham (Associated Chambers of Commerce and Industry) study (saying that Indian corporates would cut jobs by 25 % due to the global financial crisis),&#8221; Chidambaram said.<br \/>\n&#8220;The pace of creating jobs might slow down, but even at 7 %, jobs will be created,&#8221; he added.<br \/>\nResponding to a question on the impact of the crisis on India&#8217;s exports, Chidambaram said he couldn&#8217;t &#8220;elaborate&#8221; on this.<br \/>\nAsked what India would bring to the table at the G-20 meeting US President George Bush has called in Washington next month to deal with the financial crisis, the finance minister replied: &#8220;We are formulating our response.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Indian economy would grow at 7 % despite the global economic meltdown but this would not mean a reduction in existing job levels, Finance P Chidambaram said on Friday. &#8220;The RBI (Reserve Bank of India) estimates that growth (in fiscal 2008-09) would be at 7 %. I think it would be at 7.5 % [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-5545","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/5545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/comments?post=5545"}],"version-history":[{"count":0,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/posts\/5545\/revisions"}],"wp:attachment":[{"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/media?parent=5545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/categories?post=5545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nagalandpost.net\/index.php\/wp-json\/wp\/v2\/tags?post=5545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}