Prime Minister
Manmohan Singh carried a contrarian note and warned India Inc of unjustified
pessimism even as he guaranteed the industry of faster regulatory clearances,
mitigation of inter-ministerial disagreements and a comprehensive review of the
foreign investment policy to restore growth to its earlier trajectory.
The Prime
Minister made a case for prompt and critical actions to realize 8 per cent
economic growth yet terming the 5 per cent GDP expansion as clearly
disappointing.
PM agreed that
the role of the government is essential to take growth back to 8%. “India was
growing above 9% before financial crisis,” he said. He further added that the
slowdown is partially because of global factors and the government would take
corrective actions...
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