India still second fastest growing economy, FM

"People should remember India continues to be the second fastest growing economy after China. Even China's growth which was at 10 per cent has come down to seven per cent now, while our growth has slid to five per cent from nine per cent," FM P Chidambaram said at a bank function here.

"Economic slowdown is there in all the countries. When there is slow growth rate in the world, India cannot remain unaffected," he said inaugurating the 2110th branch of the Indian Bank in this small town in his Sivaganga Lok Sabha constituency.

Expressing hope that the country's growth would touch six per cent this year, he said "People should be confident..self confident and take bank loan to invest in farm sector, small industries, housing etc. You should hope for bright tomorrow, and not worry about the slow down."