PM Expresses Confidence On Achieving 9% Growth

Prime Minister Manmohan Singh on Feb 15 expressed optimism on achieving 9 per cent growth rate. However, he admitted the country cannot be completely insulated from chilly global winds that may blow in its direction. Speaking at Ficci''s golden jubilee auditorium where a picture of Mahatma Gandhi smiled down on the gathering from the backdrop, Dr Singh echoed his theme that industrialists served as trustees of society. He took pains to describe what his government has done over four years and, for the next five years through the 11th Five-Year Plan, proposed to build physical and social infrastructure that industry needs to sustain growth. The prime minister also explained why battling inflation was top priority of his government. An important policy stance we have adopted to ensure that growth is more inclusive has been to keep inflation under check... Some of you are not happy about our emphasis on inflation control. I see things differently. Inflation is an iniquitous tax. It hurts the poor more than the rich. Dr Singh said the government''s initiatives in agriculture and rural development, infrastructure, education and healthcare, along with efforts to keep inflation under check, would step up economic growth and make it more inclusive. In all, prime minister''s speech appeared as an attempt at showcasing the UPA government as the rightful custodian of impressive and inclusive economic growth. PM gave his government credit for higher growth and putting in place the basic architecture necessary for ensuring the growth is broad-based.