The President Mr. Pranab Mukherjee criticised all those prophesying doom for the Indian economy and asserted that nothing can be more dangerous to it than negative sentiments in the industry.

Addressing a felicitation function in his honour held by the Madras Chamber of Commerce and Industry the President said, India has a huge domestic market and therefore domestic-driven economy may be appropriate for the country. He said,in the past, we have had problems, but we have overcome these through collective efforts. Referring to the current world economic crisis, the President said although the adverse effects were felt in India, the country has been able to insulate the economy to a great extent with government's cautious fiscal policy and management of the economic sector and because of internal strengths.

The President said in the course of time, there can be difficulties which may appear insurmountable but every problem can be resolved with determination.

The President will inaugurate today a Rest House complex -Nandakam, built at a cost of about 36 crore rupees and visit the 130-year old Sri Venkateswara Vedic School at Dharmagiri in Andhra Pradesh. He will offer prayers to lord Venkateswara at Tirumala and to Goddess Padmavathi at Tiruchanoor.

President Pranab Mukherjee offered prayers to lord Venkateswara Swami of Tirupati this morning. He has taken part in the special prayers at the world-famous Balaji Temple early today during his maiden visit to Andhra Pradesh after assuming office.

He will inaugurate a Rest House complex -Nandakam, built at a cost of about 36 crore rupees and visit the 130-year old Sri Venkateswara Vedic School at Dharmagiri later in the day.

The President will offer prayers to Goddess Padmavathi at Tiruchanoor before leaving for Delhi .