Press Esc to close
Tuesday 23 September 2014
News updated at 3:44 PM IST
Weather
Max: 30.8°C
Min : 21.5°C
In Bangalore
Sunny day

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
In this Sept. 11, 2013, file photo, Indian engineers work on the Mars orbiter spacecraft at the...

In this Sept. 11, 2013, file photo, Indian engineers work on the Mars orbiter spacecraft at the...

Japan's (L-R) Masahiro Yamada, Seiya Takano and Takeshi Terashima celebrate a point during their...

Japan's (L-R) Masahiro Yamada, Seiya Takano and Takeshi Terashima celebrate a point during their...

Star shuttler Saina Nehwal and National badminton coach Pullela Gopichand during the...

Star shuttler Saina Nehwal and National badminton coach Pullela Gopichand during the...

India's Abhinav Bindra concentrates to shoot at the Men's 10m Air Rifle qualification at the 17th...

India's Abhinav Bindra concentrates to shoot at the Men's 10m Air Rifle qualification at the 17th...

Japan's Sakiko Shimizu swims in her women's 400m individual medley heat at the 17th...

Japan's Sakiko Shimizu swims in her women's 400m individual medley heat at the 17th...

Japan's Takeshi Terashima (L) strikes the ball against India during their men's team...

Japan's Takeshi Terashima (L) strikes the ball against India during their men's team...

Siddaramaiah opens online portal along with facebook and twitter handles of CM's office...

Siddaramaiah opens online portal along with facebook and twitter handles of CM's office...

Iran's President Hassan Rouhani, center, prepares to give a speech...

Iran's President Hassan Rouhani, center, prepares to give a speech...

Turkish Kurdish protesters clash with Turkish security forces during a pro-Kurdish protest ...

Turkish Kurdish protesters clash with Turkish security forces during a pro-Kurdish protest ...

Students of Govt Womens College, Hunsurperform Parisara Samrakshane during Dasara Yuva Sambrama...

Students of Govt Womens College, Hunsurperform Parisara Samrakshane during Dasara Yuva Sambrama...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523