Is Manmohan Singh daydreaming while talking about a return to 8% economic growth?

GN Bureau | April 3, 2013



Addressing the annual general meeting of industry chamber CII in the national capital, prime minister Manmohan Singh on April 3 said India can get back to the high growth path of 8 percent even while dealing with problems like corruption, bureaucratic inertia and difficulties in managing coalition. He said the government will further relax the FDI policy and take steps to bring down inflation. "Growth has slowed to 5 percent, which is clearly disappointing.... We are seeing temporary downturn, partly due to global factors. We can get back to 8 percent growth rate," the prime minister said, adding that the government will take speedy and decisive action to push economic growth.

But how feasible is Singh’s claims and assurances, given that the reports and feedbacks from all quarters and sectors are negative? Having made similar promises on multiple occasions over the last couple of years, is this the politician in the PM speaking as the general elections draw closer? In sum, is Manmohan Singh daydreaming showing Indians the dream of a return to the glory days of 8% growth?

Comments

 

Other News

A sustainability warrior’s heartfelt stories of life’s fleeting moments

Fit In, Stand Out, Walk: Stories from a Pushed Away Hill By Shailini Sheth Amin Notion Press, Rs 399

What EU’s AI Act means for the world

The recent European Union (EU) policy on artificial intelligence (AI) will be a game-changer and likely to become the de-facto standard not only for the conduct of businesses but also for the way consumers think about AI tools. Governments across the globe have been grappling with the rapid rise of AI tool

Indian Railways celebrates 171 years of its pioneering journey

The Indian Railways is celebrating 171 glorious years of its existence. Going back in time, the first train in India (and Asia) ran between Mumbai and Thane on April 16, 1853. It was flagged off from Boribunder (where CSMT stands today). As the years passed, the Great Indian Peninsula Railway which ran the

Vasudhaiva Kutumbakam: How to connect businesses with people

7 Chakras of Management: Wisdom from Indic Scriptures By Ashutosh Garg Rupa Publications, 282 pages, Rs 595

ECI walks extra mile to reach out to elderly, PwD voters

In a path-breaking initiative, the Election Commission of India (ECI), for the first time in a Lok Sabha Election, has provided the facility of home voting for the elderly and Persons with Disabilities in the 2024 Lok Sabha elections. Voters above 85 years of age and Persons with Disabilities (PwDs) with 4

A fairly reasonable way to solve problems, personal and global

Reason to Be Happy: Why logical thinking is the key to a better life By Kaushik Basu Torva/Transworld, 224 pages

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter