Economy has withstood adversities, set to achieve 9 percent growth in 2010-11: PM

New Delhi, Mar 5 (ANI): The Prime Minister, Dr Manmohan Singh, on Friday said the economy has withstood adversities caused by global financial crisis, and added that the world is praising India for its handling of it.

Addressing a joint sitting of Parliament, Dr Singh said: "The whole world has praised the stability of the Indian economy."

Replying to President Pratibha Devisingh Patil's address to both houses on February 22, Dr Singh also expressed confidence about achieving a growth rate of nine percent during 2010-11.

"We are moving in the right direction. I am confident the economy would witness a growth rate of nine percent in the next fiscal," he said.

Dr Singh further said, the Congress-led United Progressive Alliance (UPA) Government took all measures to check inflation.

"Unemployment would have increased, if we would have attempted to control price rise through different methods," he said, adding that the Congress Government has focused more in the rural areas during recession.

"The biggest reason for inflation is decrease in agricultural produce," claimed Dr Singh.

We were affected by the international market and we took all measures to control inflation, " said Dr Singh, adding that more sugarcane will be produced in the rural areas eyeing upon growth.

Dr Singh also said the country is competent enough to face any challenges that come its way. (ANI)