Indian economy on sound footing: Manmohan

November 11th, 2008 - 3:41 am ICT by IANS  

On Board Air India One, Nov 11 (IANS) The Indian economy was on a strong footing and the government would do everything within its power to help the industry tide over the impact of the global financial crisis, Prime Minister Manmohan Singh said Monday.”Ours is a strong economy and there might be a slowdown but it won’t be a major slowdown,” the prime minister told reporters on board his special aircraft while returning home from a two-nation visit to the Gulf.

“We are aware that private companies would have to take steps to safeguard their interests. Whatever industry wants we will take a fresh look at. We will do whatever needed to keep the economy sound,” Manmohan Singh maintained.

Responding to a question on domestic petrol prices, he ruled out any immediate rate cuts.

“If industry believes this is necessary, we will look into it,” the prime minister said.

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