New Delhi, July 15: With impressive growth in the manufacturing sector and exports and inflation running in single figure, the economy was looking up, Finance Minister Jaswant Singh said on Tuesday. "By the grace of god, so far rains are encouraging, the inflation is in single figure and the forex reserves are buoyant", he told the 19th All India Conference of Chief Commissioners and Director Generals of Income Tax and Excise and Customs.

Singh said he expected a three figure foreign exchange reserves in the "none-too-distant-future".
He said the manufacturing sector was growing satisfactorily and the services were also progressing well.

While the exports were growing at 19 per cent, the imports were also rising, he said adding this buoyancy was in sharp contrast to last year.
The Minister said last year, there was unprecedented drought in some parts of the country besides the gulf war and the stand off with the neighbouring country. Bureau Report