Economy to turn around in October: Chidambaram

The next financial year will be a tough one for the country’s economy but there will be a turnaround from October, Home Minister P Chidambaram said here on Saturday. “The 2009-10 will be a difficult one for our economy but there will be a turnaround from October or little thereafter,” Chidambaram said at a meeting after inaugurating a branch ofthe Union Bank of India. Asserting that India would register a 7% growth, Chidambaram, who was the finance minister before taking over the home portfolio in December, said a “right mix of policies and leadership” was required to steer the country through these difficult times. Expressing satisfaction that “we tamed inflation,” he said inflation would go down further in the coming months. “Inflation remained a monster seven months ago but we successfully tamed it,” he said.