Saturday, January 7 2006 13:39 Hrs (IST) - World Time -

Mumbai: Union Finance Minister P Chidambaram has expressed hope that the country's economy would continue to grow at a modest rate of 7.5-8 per cent in the current year with a plethora of new investments coming in.

"This year I expect a burst of investment, which will move the economy faster. I expect a 7.5-8 pc growth in the year," Chidambaram said addressing a function organised by news channel.

"My job is to boost investments both in private and public sectors. I urge you to implement your investment decisions. I expect more foreign investment providing adequate funds for the development of the country," Chidambaram said and asked countrymen to take active part in Government's decision making process.

Referring to the capital markets the Finance Minister said, he expects a lot of mergers and acquisitions this year.

"A lot of M&As will happen this year and this must happen. Indian companies should acquire those in abroad and vice versa. The year will experience bust of investment. Bankers must be kept busy throughout the year," he added.