January 8, 2012 11:50 AM

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Indian economy expected to grow by 7 per cent despite global economic slowdown: PM

The Prime Minister Dr. Manmohan Singh has said Indian economy is expected to grow by 7 per cent this financial year despite the adverse impact of global economic slowdown. Inaugurate the 10th Pravasi Bhartiya Divas in Jaipur today, Dr. Singh said, steps taken to control inflation are producing results and there has been some improvement. He said, Government has attempted sincerely to address the rising expectations of people with regard to governance and delivery of public services. The Prime Minister called upon the overseas Indians to contribute in the building of modern India. He said that world witnessed a steady growth in number and level of prosperity of overseas Indians. Dr. Singh announced introduction of a pension and life insurance fund for overseas Indian workers. This scheme will enable and assist overseas workers to voluntarily save for their return and re-settlement. The Prime Minister said, a law has been enacted to enable NRIs to vote in election. The government has also issued notification for registration of overseas electoral which will enable them to participate in election process. Refering to West Asia situation, Dr. Singh said, we need to be alert to the unfolding developments in that region. He said, government is conscious of the safety and security of Indians in Gulf and West Asia and an action plan is being prepared for this purpose.

Addressing the conference, Chief Guest and Prime Minister of Trinidad and Tobago Kamla Prasad Bissessar said that India is a fast growing economy and Indian diaspora across the world is playing a major role in changing world's scenario. Refering to the strong cultural relationship between India and her country she said, trade and investment are the sectors where mutual cooperation can be increased.

Chief Minister of Rajasthan, Ashok Gehlot and Minister of Overseas Indian Affairs Vayalar Ravi also addressed the formal inauguration of 10th Pravasi Bhartiya Divas.

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