Prime Minister Manmohan Singh said that low investment particularly in infrastructure sector, has been a major bottleneck to the Indian economy’s growth, and that the Government is trying to address the problem. Prime Minister said that the need is to strengthen the impulses to accelerate the process of investment in infrastructure sector to boost the economic growth.
By adding further, Singh said that the government has set up the Cabinet Committee on Investment (CCI) to remove bottlenecks which hamper the growth of infrastructure sector. Manmohan Singh said that regulatory problems such as environment clearances and availability of coal and other inputs have stalled the progress of major infrastructure projects and thus hurt out development plan. However, the Government is trying to tackle all these issues.
Regarding the GDP growth rate, the Prime Minister said that India's economic growth would accelerate to 6-6.5 percent in the current financial year as compared to around 5 percent growth registered in the previous year. While, for the next two to three years, we are confident of returning the Indian economy back to the 8 percent growth rate on the back of revival in savings and investments.
