India's economy to grow between 9-10 per cent from 2011: Manmohan Singh

New Delhi, Jan 8 (ANI): Inaugurating the 9th Pravasi Bharatiya Diwas in today, Prime Minister Dr. Manmohan Singh said that India's growth is expected to be 9-10 per cent from next year and economic recovery was progressing well despite fluctuations in global scenario.

Underlining that high growth rate is vital to fund India's social development programmes and create employment for its young population," Dr. Singh told Indian Diaspora: "In the last two quarters, our growth rate has been 8.9 per cent and we expect that for the entire year it will be around 8.5 per cent," he said.

"We expect that from the next year onwards we will be able to grow at a rate between 9 and 10 per cent. This growth is vital to fund our ambitious social development programmes and create employment opportunities for our young population. I will also create new bonds of interactions and connectivity between India and the overseas Indian communities," Dr. Singh said.

In wake of various scams hitting the government, the Prime Minister said that he is examining seriously how to make systemic changes that ensure more transparent procedures and safeguards in our governance processes.

"I believe our democracy is sturdy, vibrant and has their own inbuilt mechanisms for redressal and course correction. We need to build consensus on far-reaching changes that may be required in processes of governance and in our legal or electoral systems. We are determined to work sincerely towards this end," he said.

Inviting the Indian diaspora for deeper engagement in the country's development process, Dr. Singh said: "I believe that the Pravasi Bharatiya Divas has become an important event in our calendars because in this era of globalisation and instant and constant connectivity a new bond has been established between India and her own children who live around the world.

"These interactions have enabled you to discover a new India and feel enthused by our progress. When you see the knowledge explosion in Bangalore, the entrepreneurial vibrancy of Gujarat, the creativity of Tamil cinema, the awakening of a new India, you feel proud to say you are a person of Indian origin."

He said that world expects India to play a more important role in the management of global polity and economy and the country's rise as an emerging nation is welcomed as a positive factor in international relations. (ANI)