India Will Be Back At 9% Growth Within Two Years- Prime Minister

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The Indian Prime Minister Manmohan Singh, while addressing the US-India Business and Chamber of Commerce at Washington expressed optimism that the country will be back to its 9% growth within a couple of years, media reports said.

On Monday, India invited US investors in a host of areas such as infrastructure, energy and agriculture. The Prime Minister during his address said that the government plans to push ahead with key reforms in several areas including taxes, education, skill development and legal sector.

Manmohan Singh made it clear to businessmen that the economic reforms will continue. He said that the reforms have been advantageous for the country and assured that the reforms will be only in a phased manner. He said economic growth was negatively impacted due to the global economic crisis. However, he expressed confidence on the revival.

Dr. Singh said that the government plans to achieve growth with the help of key reforms in several areas and aims at bringing down deficit while increasing infrastructure investment. Tax reforms, especially the introduction of goods and services tax, are a very important part of the agenda besides financial sector reforms, he noted.

(Market News Provided by RTTNews)