Lack of consensus affecting economic growth: PMAugust 15th, 2012 - 9:11 am ICT by IANS
New Delhi, Aug 15 (IANS) Lack of political consensus on many issues is affecting India’s rapid economic growth, Prime Minister Manmohan Singh said Wednesday.
Addressing the nation on India’s independence day, the prime minister regretted that the absence of such consensus was coming in the way of an environment conducive for faster economic growth.
“Time has now come to view the issues which affect our development processes as matters of national security,” he said, in his ninth address from the Red Fort.
Manmohan Singh warned that national security would be hit if the pace of economic growth did not increase, new investment was not encouraged, management of government finances was not improved, and energy security was not achieved.
The prime minister covered an array of issues in his speech but much of it was focussed on Indian economy.
Besides the global financial crisis, domestic developments were also hindering the growth of India’s economy, he said, without specifying what the hiccups were.
India’s GDP grew by 6.5 percent last year, and “this year we hope to do a little better”, he said.
The economist-turned-politician admitted that this year’s poor monsoon would pose difficulties in controlling inflation.
But Manmohan Singh assured the nation that the difficult days would not last long.
“Even as we face problems, we should be encouraged by the fact that we have achieved extraordinary successes in many areas in the last eight years,” he said, referring to the period since 2004 when he came to head a Congress-led coalition government.
“We now need to replicate these successes in newer areas.”
- Lack of political consensus hurting economy, says PM (Intro Roundup) - Aug 15, 2012
- PM moans lack of consensus, vows to fight corruption (Roundup) - Aug 15, 2012
- Government trying to protect Indian economy from global mess: PM - Sep 07, 2012
- PM for energy efficient power generation technology - Dec 14, 2011
- Text of Prime Minister's Independence Day speech - Aug 15, 2012
- UPA-II high on economy, to combat Maoism, corruption (Night Lead) - May 22, 2012
- PM warns of economic troubles, seeks broad consensus - Mar 20, 2012
- Reform global governance structures, India urges NAM (Lead) - Aug 30, 2012
- Maoism is a major problem, says PM (Lead) - May 22, 2012
- Infrastructure funding key to growth: G20 endorses India's stand (Lead) - Jun 20, 2012
- We will restore growth, investor confidence: PM - Jul 06, 2012
- India to raise economic crisis at UN, seek inclusive growth - Sep 17, 2011
- Manmohan reassures political consultation on NCTC (Second Lead) - Mar 20, 2012
- UPA-II: PM showcases 7 percent growth rate - May 22, 2012
- Lack of cohesion in politics holds up growth: PM - Aug 31, 2012
Tags: , , , , , , , , , , , , , , , , , , ,