Chidambaram eyeing more reforms, may open FDI floodgates

Chidambaram

"The current account deficit is indeed large and a matter of concern," said Chidambaram. "For 2012-13 (it) has been fully financed by foreign exchange inflows, without touching our foreign exchange reserves. In fact we may have even added to our foreign exchange reserves," he said.

Chidambaram also said that the Indian economy was expected to grow 6.1-6.7 percent in the current fiscal year, an improvement on the estimated 5.0-5.5 percent growth recorded last fiscal year, a figure the minister said he was not satisfied with.

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