NEW DELHI : Prime Minister Manmohan Singh today projected the growth rate 8 per cent but said fiscal deficit, inflation and the current account deficit would have to be overcome
through hard work and by converting the existing challengess into opportunities.
The Prime Minister, who was speaking to a small group of reporters after presentation of the General Budget for 2103-14 by Finance Minister P Chidambaram in Parliament, said the Finance Minister had done a “commendable job” given the challenges before the economy.
He said India needed to create 10 million jobs per year and eight
per cent growth rate in the 12th financial year.
“This is a growth rate consistent with our potential…We have
to get there…We can’t be complacent,” he said.
The important step, Dr Singh said, was to remove the pessimistic
mood with regard to the growth potential.
Dr Singh said the Finance Minister had laid down a roadmap for
every Ministry to help in an inclusive and economic growth and there was plenty of room for every ministry.
It was the ”collective wisdom” of the Council of Ministers to convert the challenges into opportunities, he added.
Admitting that there were problems with regard to various sectors of investment, including land acqusition, environment, responses of state governments, the Prime Minister said the Cabinet Committee on Investment (CCI) had ”grappled” with these challenges and roadblocks.
The mood of the country, he said, was ”not to lose any time” but ”get the act together for a sustainable and equitable growth.”
If India succeeded in achieving a growth rate of 8 per cent or more, the winners would be the people of India, the Prime Minister said.
(AGENCIES)
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