India will soon emerge as the fastest growing economy in the world: PM
New Delhi, May 22ANI: The Congress-led United Progressive Alliance UPA has offered seven years of political stability, social progress, communal harmony, economic growth and increased engagement with nations around the world, Prime Minister Dr. Manmohan Singh said on Sunday. Dr. Singh said this during a function to celebrate the second anniversary of the UPA-II government in New Delhi. The Prime Minister had invited all the parliamentarians of the UPA for a dinner at his residence. He has also invited the prominent leaders of all the political parties who have extended support to the UPA. "I am happy to report that in these past seven years our economy has grown at an unprecedented rate of 8.5 per cent. This historic performance has been in the face of a grave financial crisis and slowdown in the world economy. It has been achieved overcoming the problem of high energy prices and rising food prices," Dr. Singh said. "If each one of us continues to work hard with dedication, commitment and honesty, I am sure India will soon emerge as the fastest growing economy in the world. We already are the world's fastest growing democracy," he added. Dr. Singh also said that the government has pursued a strategy of seeking "inclusive growth" at home and "inclusive globalization" internationally that benefits the have-nots and reduces disparities. "We have enacted laws that guarantee the Right to Employment, Right to Education and the Right to Information. We now propose to introduce a legislation giving our citizens the Right to Food," the Prime Minister said. "A superstructure of development has been built on this foundation of investment in human capabilities. Our policies have aimed to empower, socially, educationally and economically, the weaker sections of our society - Scheduled Castes and Scheduled Tribes, other backward classes, minorities and women," he added. He further insisted that India has a long way to go in banishing poverty and in providing gainful employment to all. "India stands at the cusp of new opportunities, and new challenges. These are difficult times, with rising energy prices, with increasing demand for food, with new challenges to human security. But these are also times of change, with the engine of global growth shifting eastwards to Asia. Asia is on the march, and so is India," Dr. Singh said. "Our people look to the future with hope and the world looks at us with hope. With new opportunities, come new responsibilities. But, there is much we must do at home to be able to realize our hopes, our aspirations, and our dreams," he added. Dr. Singh insisted that the country's most immediate challenge is to sustain the growth process, while keeping inflation under check. "There are four dimensions to sustainable economic growth: fiscal, social, ecological and political. The fiscal challenge is immediate. In response to the global economic slowdown we undertook a massive fiscal stimulus programme that helped maintain reasonable growth. Today, however, we must reduce the fiscal and revenue deficits, increase public investment, and cut down on wasteful subsidies," Dr. Singh said. "This challenge has been made all the more daunting by the rise in world fuel prices. As an importer of oil we have to adopt rational pricing policies. This is not just prudent fiscal management. This is a national security imperative. India cannot become too dependent on external sources of energy." "Equally, we cannot become too dependent on world markets for food. The imperatives of food security impose certain policy options. The Indian farmer has to be empowered with better prices, better policies, better access to finance, to technology, to infrastructure and to markets," he added. He further said that the government is also mindful of the threat of climate change and the need to make the growth process ecologically sustainable. "This means we seek to build a low carbon economy. This calls for investment in research and development of alternative sources of energy, including nuclear energy. We seek globally open markets and access to technologies that will improve the quality of life of our people, especially the poor," the Prime Minister said. ANI
Posted by aniin on Tuesday May 24  reply


Comments

 <<  <  1  >  >>