Meltdown: PM's moves ''lauded'' by global leaders

Raipur, Nov 16 (UNI) Union Minister of State for External Affairs, Information and Broadcasting Anand Sharma has said that Prime Minister Manmohan Singh received appreciation from global leaders for his ''financial knowledge and able leadership'' in minimising impact of the global meltdown on India.

''The Premier's effort vis-a-vis timely guidance to the Reserve Bank of India and injecting additional liquidity for banks has certainly overcome the financial crisis in the country,'' he told UNI.

Pointing out that global leaders were also in touch with Dr Singh to seek his help in solving the imbroglio, Mr Sharma blamed reckless borrowings and equally irresponsible lendings by global financial institutions as principal reasons for the crisis that was the first of its kind after the Great Depression that struck in 1929.

Lauding Indian scientists for the Chandrayaan mission's success, the Minister termed it a milestone for the country.

Appreciating the Indian Navy's role in release of a ship hijacked by pirates in the Gulf of Aden, he said, ''besides our Navy three other countries have deployed warships in that Gulf to counter these pirates.'' UNI MB AC 1652