January 8, 2013 12:11 PM

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PM confident strong fundamentals backed by sound policies will see high India growth rate

Prime Minister Manmohan Singh has expressed confidence that the country's strong economic fundamentals backed by sound policies will enable it to return to a higher growth rate. Inaugurating the 11th Pravasi Bhartiya Diwas in Kochi today, the Prime Minister said, the country needs rapid growth and healthy economy to meet aspirations of an increasingly young India to make economic development more inclusive and sustainable. He said, from an inclusive growth rate of over eight per cent between 2004 and 2010, the growth rate may fall below six per cent in the current fiscal. He said there is a surge of expectation from an increasingly empowered and articulate population for more responsive, transparent, clean and efficient government. The government is determined to turn any setback into an opportunity to improve legal and regulatory framework.

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