Amid high expectations of reversing the sharp slowdown in the country's economic growth, Finance Minister P. Chidambaram started presenting India's 82nd budget in the Lok Sabha Thursday.
He began his speech by seeking the support of all parties and stakeholders to help navigate the Indian economy through the current crisis. He said getting back to the growth rates of over 8-9 percent seen some years ago was the main challenge.
"We have done it before, and we can do it again," Chidambaram said, in what is his 8th national budget for the country. "Whatever may be the final outcome, growth is below potential. But there is no need for gloom."