Economic downturn is now coming to an end: PM

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Manmohan Singh
New Delhi, Sep 1: Prime Minister Manmohan Singh on Tuesday, Sep 1 said that global economic downturn which had affected Indian economy is now coming to an end with slow return to normalcy.

"We have been through a difficult year because of the global economic downturn which is only now coming to end with a slow return to normalcy in the months that lie ahead," Singh said in his opening remarks chairing the meeting of the full Planning Commission

"The country has also seen poor monsoon," he said, adding it would be useful for the Planning Commission to present its assessment of the overall economic situation.

The meeting was also attended by Finance Minister Pranab Mukherjee, agriculture minister Sharad Pawar and home minister P Chidambaram.

India's economic growth slipped to 6.7 pc in 2008-09 from about 9 pc in the previous fiscal. The growth, according to the Planning Commission, is expected to fall further to 6.3 pc in 2009-10.

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