Press Esc to close
Friday 31 March 2017
News updated at 2:07 AM IST

Indian economy will bounce back soon: Pranab Mukherjee

Kolkata, Sep 14, 2013 (PTI)
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
People  are purchasing Mango leaves and Neem leaves on the eve of Ugadi festival ...

People are purchasing Mango leaves and Neem leaves on the eve of Ugadi festival ...

A group of Marathi women, dressed in traditional attires, with placards displaying...

A group of Marathi women, dressed in traditional attires, with placards displaying...

Yakult's new brand ambassador and Bollywood actor Shilpa Shetty at a promotional event...

Yakult's new brand ambassador and Bollywood actor Shilpa Shetty at a promotional event...

King of fruits mango has arrived for sale at Eidgah Maidan near Channamma Circle in Hubballi...

King of fruits mango has arrived for sale at Eidgah Maidan near Channamma Circle in Hubballi...

Children with flowers, neem leaves and jaggery all set to welcome the New Year...

Children with flowers, neem leaves and jaggery all set to welcome the New Year...

Roads wear deserted look on Tuesday as temperature soars in Surat...

Roads wear deserted look on Tuesday as temperature soars in Surat...

Security forces chasing away local protesters who tried to disrupt an anti-militant operation...

Security forces chasing away local protesters who tried to disrupt an anti-militant operation...

Smoke billowing out of the house which was targeted by the security forces personnel for...

Smoke billowing out of the house which was targeted by the security forces personnel for...

A man carries schoolchildren on his bicycle on a road in Srinagar, India...

A man carries schoolchildren on his bicycle on a road in Srinagar, India...

Russian opposition leader Alexei Navalny, foreground, speaks to press in a court room in Moscow....

Russian opposition leader Alexei Navalny, foreground, speaks to press in a court room in Moscow....

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