Indian PM hopes for 7 percent growth next year
NEW DELHI, India (AP) - 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.
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.
11/08/09 06:25
© Copyright The Associated Press. All rights reserved. The information contained In this news report may not be published, broadcast or otherwise distributed without the prior written authority of The Associated Press.