Economy to recover by September: PM

April 19th, 2009 - 1:52 pm ICT by IANS  

Manmohan Singh Guwahati, April 19 (IANS) Prime Minister Manmohan Singh Sunday said the world economy will recover “partially” by September and India would then go back to the growth rate of 8-9 percent.
“I expect the world economy to partially recover by September and if that happens we expect to go back to the growth rate of 8-9 percent, which has been the growth rate of India for the last five years,” the prime minister said while addressing a press conference at Amin Gaon in Guwahati.

To a question on the reasons for the current global economic crisis, Manmohan Singh said: “This is a crisis because of the mishandling of the financial system by the major developed countries.”

Prime Minister Manmohan Singh, who is a Rajya Sabha member from Assam, is here to address an election rally.

The second phase of polling in Assam will be held April 23.

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