Joined: 14 April 2013
The Tyler Group Review Articles - Prime Minister Manmohan Singh carried a contrarian note and warned India Inc of unjustified pessimism even as he guaranteed the industry of faster regulatory clearances, mitigation of inter-ministerial disagreements and a comprehensive review of the foreign investment policy to restore growth to its earlier trajectory.
The Prime Minister made a case for prompt and critical actions to realize 8 per cent economic growth yet terming the 5 per cent GDP expansion as clearly disappointing.
PM agreed that the role of the government is essential to take growth back to 8%. "India was growing above 9% before financial crisis," he said. He further added that the slowdown is partially because of global factors and the government would take corrective actions.
PM Singh said it was nice to see that the industry had realized that the government has a role. That was when reminding the industry of the undue optimism in 2007 when the industry claimed that it grew irrespective of the government in the pre-Lehman crisis.
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