E-Mail
Print
tool name
close
Sunday, Nov. 08, 2009
Indian PM hopes for 7 percent growth next year
NEW DELHI, India -- The Indian government is pushing ahead with economic reforms aimed at achieving a growth rate of more than 7 percent next year but will make sure the benefits reach the poor, Prime Minister Manmohan Singh said Sunday.
India's economy is expected to expand 6.5 percent this year despite inadequate monsoon rains that caused agricultural production to dip, Singh told participants in a three-day India Economic Summit organized by the World Economic Forum.
"There are clearly signs of an upturn in the economy. With a normal monsoon next year, we hope to achieve a growth rate of over 7 percent," Singh said.
AP Photo - Indian Prime Minister Manmohan Singh, center, gestures as he poses for the media along with Swedish Prime Minister Fredrik Reinfeldt, left, and European Commission President Jose Manuel Barroso, before a meeting in New Delhi, India, Friday, Nov. 6, 2008.
Singh was India's finance minister in the early 1990s and was the prime architect of economic reforms that propelled the country on its current growth trajectory.
India has fared better than most countries in the ongoing global economic downturn, Singh said. He said the government will now concentrate on accelerating the pace of economic reform, opening up key areas such as the financial sector.
However, the government will ensure that the benefits of the policies reach the poorer sections of society, he said.
"Our strategy today is not just to deliver rapid growth, but to deliver rapid and inclusive growth," Singh said.
The emphasis will be on creating jobs and raising living standards in rural areas, he said.
A few rules are needed to help foster a feeling of community. We encourage a free, CIVIL and open exchange of ideas in a climate of mutual respect, but any post that violates someone's right to use and enjoy mercedsunstar.com is prohibited. Before you post, please read the terms of use and obey these simple guidelines. Here are the ground rules:
1. Be yourself. A nickname will be used for posts, but if an editor finds a user without a verifiable name , that user will be warned or banned.
2. Keep it clean. Foul language (defined by prime-time standards) will not be tolerated. Neither will the intentional misspelling of foul language or the use of non-English curse words.
3. Be truthful. Do not lie or link to sites that may be considered libelous, defamatory or false.
4. Be nice. Don't harass anyone. Don't threaten anyone. Don't use racial slurs. Don't post anything sexually explicit.
5. Be an individual. Do not advertise or solicit. Do not harvest any information for business use.
6. Be original. Do not post copyrighted material.
7. Follow the law. Don't do anything or post anything considered illegal by city, county, state or federal regulations and laws.
On most news stories, the commenting period is closed after three days. If you wish to continue a discussion, please use The Sunspot forum.
@Nyx.CommentBody@