india-news

Concerned over slow growth, but no reason to worry: President

Kolkata, Sep 14 : Expressing concern over the slow growth of the Indian economy, President Pranab Mukherjee Saturday called for corrective measures, but said there was no room for despondency as the fundamentals were strong.


"All of us are concerned about the slow growth of the GDP (Gross Domestic Product) in 2011-12 and 2012-13.

"Precisely it began in 2008-9 as a consequence of the major international financial crisis, after which there were two good years and then again there was slump, bercause the world economy did not fully recover from the downturn of 2008-9," Mukherjee, a former finance minister, said while addressing a business body here.

The president said while emerging markets like India and Brazil made impact on the world trade during the 2008-9 downturn, they also slowed down after the Eurozone crisis of 2011-12.

"India, as a global economy, was no exception. There are are of concern, but no room for gloom and despondency. As a student of economy and history, I have seen our growth scenario has had a chequered history," he said at the annual general meeting commemorating the 160th year of the Bengal Chamber of Commerce and Industry.

Pointing out that the Indian economy grew by 7.9 percent on an average, "despite the extremely bad years", Mukherjee said "these figures speak that centrain fundamentals of the Indian economy are strong".

"Corrrective measures are necessary, but there is no room for despondency. In every country, various economic measures are taken to suit their own requirements, and try and tackle the situation."

--IANS (Posted on 14-09-2013)

india-news headlines

Jharkhand: 8 killed in Maoists attack

Festival of India in China: Logo, posters, webpage launched

LS polls: Jammu and Kashmir records 28 pct voter turnout

Congress moves EC for cancellation of FIR against Mistry

Special Cell to probe two suspected terrorists' case, NiA tells HC

110 million vote in India, BJP says it's 'Modi tsunami'

Modi files nomination from Varanasi, promises improved infrastructure

Accused in Judev sting operation to face trial, rules SC

Stress on women's dignity at workplaces

EC finds 321 cases of paid news till date

Amid minor violence, 60.12 percent voting in Uttar Pradesh

Poll official killed, voting in Kashmir's Anantnag 28 percent

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014

Comments

Your e-mail:


Your Full Name:


Type verification image:
verification image, type it in the box

Message:

Back to Top