FM sticks to 8.5% growth despite higher IMF forecast

FM sticks to 8.5% growth despite higher IMF forecast

New Delhi, July 19: Finance Minister Pranab Mukherjee today said he will not be swayed by the IMF’s higher growth projection of 9.5 per cent but will stick to his conservative outlook of about 8.5 per cent plus economic expansion for the current fiscal.

“Always, we have dispute with the IMF. I was inclined to accept the IMF assessment for India’s growth for the year when they projected it 9.4-9.5 per cent. But I am being conservative in my assessment...I will be happy with 8.5 per cent plus growth,” Mukherjee told a conference on financial inclusion hosted by industry body CII here.

Earlier this month, the International Monetary Fund (IMF) had hiked the country’s growth forecast for 2010 to 9.5 per cent from its April projection of 8.8 per cent.

Train tragedy in West Bengal again - 61 dead, 157 injured

Train tragedy in West Bengal again - 61 dead, 157 injured

Sainthia (West Bengal), July 19: A speeding express train ploughed through a train standing at a station in West Bengal’s Birbhum district early on Monday, killing at least 61 people and injuring more than 150. It was the second train disaster in the Communist-ruled state in less than two months that have taken a toll of over 200 lives.

The Sealdah-bound Uttar Banga Express slammed into three coaches, one luggage van and two unreserved second class coaches, of the stationary Bhagalpur-Ranchi Vananchal Express at Sainthia station in Birbhum, about 190 km from Kolkata, at about 2.15 a.m., railway authorities said. All three coaches were badly mangled by the severity of the collision with one of the coaches shooting from the tracks and almost mounting the footbridge above. Gas cutters were used to cut open the coaches and bring out the dead and rescue the injured.