ID :
67933
Fri, 06/26/2009 - 18:42
Auther :
Shortlink :
https://www.oananews.org//node/67933
The shortlink copeid
Economic crisis: India fared better than others, says Preneet
Lalit K Jha
Washington, Jun 26 (PTI) Though affected by the
current global economic meltdown, India has fared much better
than other countries of the world, Minister of State for
External Affairs Preneet Kaur said Friday.
"We have fared much better than others though we are
also affected and our growth rates have come down from the
nearly nine per cent average of the past four years to 6.7 per
cent in 2008-09," Kaur said in her address to the UN
Conference on World Financial and Economic Crisis being held
at the UN headquarters in New York.
In response to the crisis, Kaur said India has made
aggressive use of fiscal and monetary policy, with particular
focus on fiscal stimulus in infrastructure investment.
"Our primary challenge is to get rid of chronic
Poverty, ignorance and disease, which still afflict millions
and millions of our citizens. For this, we need a high rate of
growth coupled with measures to make it inclusive," she said.
"We have endeavored to achieve this through huge
investments in the rural and farm sector, a massive rural
employment guarantee scheme, infrastructure development
projects, major national food security and rural health
missions, and an urban renewal mission," Kaur said.
India, Kaur said, has actively engaged in the G-20
framework aimed at redressing the current global economic
situation so as to bring the global economy back to the
trajectory of sustained growth.
Leaders of some of the largest economies, the G-20,
have met twice in the past months and declared their
determination to instill confidence and restore stability to
the world economy, she said, adding they have also pledged to
strengthen regulation, reform international financial
institutions, reject protectionism and build recovery.
The package of USD 1.1 trillion to restore credit and
growth together with national measures constitutes a global
plan for recovery on an unprecedented scale, Kaur said.
Noting that India has a vested interest in the world
economy doing well as that is a key enabler for India's growth
too, the minister said: "But as we strive for global solutions
to this global crisis, we must remember that development or
economic growth cannot be slowed, halted or sacrificed in the
search for solutions to the crisis." PTI
Washington, Jun 26 (PTI) Though affected by the
current global economic meltdown, India has fared much better
than other countries of the world, Minister of State for
External Affairs Preneet Kaur said Friday.
"We have fared much better than others though we are
also affected and our growth rates have come down from the
nearly nine per cent average of the past four years to 6.7 per
cent in 2008-09," Kaur said in her address to the UN
Conference on World Financial and Economic Crisis being held
at the UN headquarters in New York.
In response to the crisis, Kaur said India has made
aggressive use of fiscal and monetary policy, with particular
focus on fiscal stimulus in infrastructure investment.
"Our primary challenge is to get rid of chronic
Poverty, ignorance and disease, which still afflict millions
and millions of our citizens. For this, we need a high rate of
growth coupled with measures to make it inclusive," she said.
"We have endeavored to achieve this through huge
investments in the rural and farm sector, a massive rural
employment guarantee scheme, infrastructure development
projects, major national food security and rural health
missions, and an urban renewal mission," Kaur said.
India, Kaur said, has actively engaged in the G-20
framework aimed at redressing the current global economic
situation so as to bring the global economy back to the
trajectory of sustained growth.
Leaders of some of the largest economies, the G-20,
have met twice in the past months and declared their
determination to instill confidence and restore stability to
the world economy, she said, adding they have also pledged to
strengthen regulation, reform international financial
institutions, reject protectionism and build recovery.
The package of USD 1.1 trillion to restore credit and
growth together with national measures constitutes a global
plan for recovery on an unprecedented scale, Kaur said.
Noting that India has a vested interest in the world
economy doing well as that is a key enabler for India's growth
too, the minister said: "But as we strive for global solutions
to this global crisis, we must remember that development or
economic growth cannot be slowed, halted or sacrificed in the
search for solutions to the crisis." PTI
