Press Esc to close
Friday 22 May 2015
News updated at 3:19 PM IST
Weather
Max: 31.5°C
Min : 22.8°C
In Bengaluru
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
Textile Minister Subash Desai at the inauguration of Textile Park...

Textile Minister Subash Desai at the inauguration of Textile Park...

Mangoes on sale in the wholesale fruit market during summer season in Bhopal...

Mangoes on sale in the wholesale fruit market during summer season in Bhopal...

Actress Aishwarya Rai Bachchan walks during the 68th Annual Cannes Film Festival...

Actress Aishwarya Rai Bachchan walks during the 68th Annual Cannes Film Festival...

An Indian Air Force (IAF) Mi-17 V5 helicopter returns on Tuesday after dropping relief recent Nepal.

An Indian Air Force (IAF) Mi-17 V5 helicopter returns on Tuesday after dropping relief recent Nepal.

Mirage 2000 fighter aircraft of the Indian Air Force successfully lands on the Yamuna Expressway...

Mirage 2000 fighter aircraft of the Indian Air Force successfully lands on the Yamuna Expressway...

Girls paying floral tribute to former prime minister Rajiv Gandhi on his death anniversary...

Girls paying floral tribute to former prime minister Rajiv Gandhi on his death anniversary...

A Mahout sits on his elephant in Sabarmati river before giving bath to protect from heat...

A Mahout sits on his elephant in Sabarmati river before giving bath to protect from heat...

A Barn Swallow chicks inside a nest in Srinagar...

A Barn Swallow chicks inside a nest in Srinagar...

A cattle egret feeding its offsprings at nest on a tree in Guwahati on Thursday...

A cattle egret feeding its offsprings at nest on a tree in Guwahati on Thursday...

An Indian man takes bath under the tap of a water tanker on a hot day in Ahmadabad...

An Indian man takes bath under the tap of a water tanker on a hot day in Ahmadabad...

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