Asserting that the fundamentals of the Indian Economy remain strong, Dr. Singh said the government was confident of bringing back the rhythm of high growth of 8 to 9 percent per annum. He said the government is taking steps to revive investor sentiment and determined to create an environment that would boost investor sentiment and promote an atmosphere conducive to enterprise and creativity.In a message to investors, the Prime Minister said the government will unveil policies that will be transparent, stable and designed to provide level playing field to both domestic and foreign investors. On the growing fiscal deficit in India, the Prime Minister said the fiscal deficit was allowed to expand after 2008 to impart a stimulus and the now the government is focusing on reversing the expansion. He said the government is determined to take some tough decisions including controlling subsidies.Earlier addressing the BRICs leaders, Prime Minister Dr Manmohan Singh said all leading economies need to come together and find a comprehensive solution to revive the economy.
News On AIR | June 19, 2012 11:11 AM
Tough decisions like subsidy cuts & bringing down fiscal deficit needed to revive economy : PM at G 20