Expressing confidence that India’s economy will recover in coming years, Prime Minister Manmohan Singh said the government has taken a number of measures to boost the economic growth and hopes that it will return to the robust growth path in the next two to three years. Though, he admitted that there has been a slowdown in the economy which has been reflected in the GDP figures.
Replying to questions on the slowdown of economy, Singh said ‘it is certainly true that in the last two years there has been a slowdown in the economy and it has been reflected in the GDP. In the Economic Survey of 2012-13 and the Finance Minister’s Budget speech, we have explained at length the factors that are responsible for the slowdown.’
By adding further he said, there are also global issues like the banking crisis of 2008-09 and the euro zone crisis coupled with the domestic issues like inflation and widening fiscal and current account deficits, which has lowered the domestic economic growth. Meanwhile, Singh assured that the government is trying hard to tackle with the prevailing economic crisis.
