Finance P.Chidambaram says, there will be a bumber harvest this year and the economy is doing well. Addressing a press conference in New Delhi today he said current account deficit is well under control and it is likely to be 60 billion dollars against 88 billion last year.

Fiscal deficit target will be met. He said the momentum in export growth will continue in the remaining part of current fiscal. He, however, admitted that Inflation and reviving investment remain a challenge.

Chidambaram expressed hope that gold import will remain at 20 tonne a month in the remaining period of the fiscal. He said market seems to be happy. But, he cautioned investors against excessive exuberance. On Reserve bank’s RBI’s monetary policy, he said it’s stance remains pro-growth.