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India will soon return to high growth path: President Patil

New Delhi, Mon, 12 Mar 2012 ANI

New Delhi, Mar 12 (ANI): Asserting that the long-term fundamentals of the Indian economy remain robust, President Pratibha Devisingh Patil on Monday said the country would soon return to the high growth path of eight to nine percent from the approximate seven percent estimated for the current fiscal. ddressing a joint session of parliament, Patil said: "My government is confident that it will soon steer the country back to the high growth trajectory of eight to nine percent."


She said the current year has been a difficult year for the world economy and economic uncertainties have had an adverse impact across the globe.


"There is increased political uncertainty and turbulence in the international system and the environment in which we operate has become more challenging over the last one year. Our economy grew at a handsome rate of 8.4 percent in 2010-11, but it has slowed down to about seven percent this year. This remains a healthy growth given current global trends," she added.


Patil further said that several steps had been taken to provide an honest and more efficient government and a formidable and unprecedented array of bills had been introduced in the parliament. (ANI)


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