PM hopeful of 9.5 pc growth despite recent market crash

New Delhi, Jan 25: Prime Minister Manmohan Singh today did not rule out the impact of the international financial crisis on India but fervently hoped that the country would sustain the annual growth trajectory of 9 to 9.5 per cent despite the recent market crash.

Replying to a question at a joint news conference with visiting French President Nicolas Sarkozy after their talks here, the Prime Minister said the fundamentals of Indian economy were strong and the country was not affected by the US banking crisis. ''We live in an increasingly inter-dependent world. Therefore, the financial crisis could impact on emerging countries like our own,'' he added. He hoped that the US would take concrete measures to tackle its banking crisis but said India was not affected by it as the fundamehtals of Indian economy were sound.

''The fundamentals of Indian economy are sound. We can sustain growth momentum of our country at 9 to 9.5 per cent annually,'' the Prime Minister said. This is the second time in a week that the Prime Minister has given the assurance.

Earlier, replying to a similar question at a press conference he addressed with British Prime Minister Gordon Brown during his recent visit here, Dr Singh had said the crisis would not have any impact on Indian economy as its fundamentals were very strong.

UNI