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If I may be frank, foreign investment is an imperative.
What we can do is to encourage foreign investment that is consistent with our economic objectives.12.
Between 20, and again in 2009--11, the growth rate was over 8 percent and, in fact, crossed 9 percent in four of those six years.
I intend to keep my speech simple, straight forward and reasonably short. We are not unaffected by what happens in the rest of the world and our economy too has slowed after 2010-11.
The CAD continues to be high mainly because of our excessive dependence on oil imports, the high volume of coal imports, our passion for gold, and the slow down in exports.
This year, and perhaps next year too, we have to find over USD 75 billion to finance the CAD.
Getting back to that growth rate is the challenge that faces the country.5.
Let me say, however, there is no reason for gloom or pessimism.
I hope this Budget will be yet another testimony to that commitment.