Press Esc to close
Thursday 29 June 2017
News updated at 3:28 AM IST

Indian economy will bounce back soon: Pranab Mukherjee

Kolkata, Sep 14, 2013 (PTI) 21:31 IST
Exuding confidence that the Indian economy will bounce back soon, President Pranab Mukherjee today said there was no reason for gloom to prevail as steps were being taken to boost investments and contain fiscal deficit.

"There is no reason for an atmosphere of gloom to prevail. Indian economy's fundamentals remain strong.

"Stabilising the rupee is foremost in the minds of the policy makers. Strong measures have been initiated to strengthen the external sector," he said at the annual meeting of the Bengal Chamber of Commerce and Industry here.

There are areas of concern but there is no room for gloom or despondency, he said.
Observing that steps taken to contain fiscal deficit and boost industrial investments "should show positive results", Mukherjee said "I am confident that the Indian economy will soon return to the high growth trajectory."

He maintained that the process of economic reforms have to be continued "with vigour and firmness. Changes wherever required have to be brought in to unleash our growth potential."

The President said there are crucial legislations pending in parliament, which clearly demonstrates the determination of policy makers.

Mukherjee also referred to the good monsoon this year which, he said, would impact positively on agricultural growth and food prices.

Our experience in the recent past has shown that we have to live with adversities whether it comes from the external or the domestic sector, he said.

Stressing that steps need to be taken to improve the performance of the manufacturing sector, he said the sectoral share of manufacturing in the GDP has remained at around 16 per cent since the 1980s, compared with 25-34 per cent for some of the Asian economies.
Increasing competitiveness of the manufacturing sector would be crucial to achieve the target of taking its contribution to GDP to 25 per cent, he said.

Go to Top

Photo Gallery
Bollywood actors Jackie Shroff, Sharbani Mukherjee and choreographer Sandip Soparrkar with yoga...

Bollywood actors Jackie Shroff, Sharbani Mukherjee and choreographer Sandip Soparrkar with yoga...

A participant shows a placard during a silent protest 'Not in My Name' against the targeted...

A participant shows a placard during a silent protest 'Not in My Name' against the targeted...

A group of Buddhist monks stand in a line during a religious ceremony at a temple in Colombo...

A group of Buddhist monks stand in a line during a religious ceremony at a temple in Colombo...

An employee works at the open joint stock company 'Borisovskiy Zavod Medicinskikh Preparatov'...

An employee works at the open joint stock company 'Borisovskiy Zavod Medicinskikh Preparatov'...

Russian President Vladimir Putin, center, toasts at a meeting with graduates of military...

Russian President Vladimir Putin, center, toasts at a meeting with graduates of military...

A duck and her little ones swim in Danube river on a hot summer day in Vienna...

A duck and her little ones swim in Danube river on a hot summer day in Vienna...

A group of journalist protest outside the National Palace for the slain journalist Salvador Adame...

A group of journalist protest outside the National Palace for the slain journalist Salvador Adame...

Noted historian and writer Ramchandra Guha along with other citizens holding placards during...

Noted historian and writer Ramchandra Guha along with other citizens holding placards during...

A barber attends a customer at the closed Burrabazar during a bandh against GST...

A barber attends a customer at the closed Burrabazar during a bandh against GST...

Bollywood actress Sridevi, in a traditional Bengali attire, speaks as former Indian cricket...

Bollywood actress Sridevi, in a traditional Bengali attire, speaks as former Indian cricket...

Like us on Facebook

Copyright 2017, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523
Powered by Yodasoft Technologies Pvt. Ltd.