Confident Manmohan Singh says Indian economy will enjoy nine percent growth again

New Delhi, Aug.15 (ANI): A confident Prime Minister, Dr. Manmohan Singh, on Saturday, sent out a positive 63rd Independence Day message, saying that the Indian economy had the strength and rebounding capability to march towards "a golden future", and would once again enjoy a growth rate of nine percent notwithstanding the current global recession.

"Going back to a nine percent growth path is our greatest challenge. For this, we will take whatever steps that are required," the Prime Minister said during his address to the nation on the occasion of the nation's 63rd Independence Day from the ramparts of the majestic Red Fort.

"By the end of the year, I am confident there will be a major change. But till then, we all have to cope with the situation," he said while laying down the agenda for the United Progressive Alliance (UPA) government in the coming year.

"I appeal to business leaders to work together in this endeavour and meet their social obligations and responsibilities," he added.

It was because of his government's policies that the country was able to grow at 6.7 per cent in the last fiscal when the world was facing one of the worst downturns in eight decades, Dr.Singh said, adding that steps would be taken to ensure adequate spending on development projects to boost growth further and capital will be sought not only from domestic sources but from overseas as well.

"India can progress only when each Indian makes a contribution. Our endeavour has been to reach the fruits of development to every citizen. I know we have a long way to go," the Prime Minister said.

The Prime Minister said he was also aware that high commodity prices were causing hardship to citizens, especially the poor. "We have enough food stocks. Every possible step will be taken to bring down prices," he said.

At the same time, he appealed to all state governments to use all administrative and legislative measures at their disposal to ensure that prices of essential commodities like cereals and pulses are brought down. (ANI)