PM pushes for reforms, says will exit stimulus next year

New Delhi, Nov 8 (PTI) Prime Minister of India Manmohan
Singh, who as finance minister in the 90s initiated
liberalisation, on Sunday said his government would steadily
pursue reforms to feed economic growth, while withdrawing the
fiscal stimulus by next year.

"Growth is expected to be around 6.5 per cent (this
fiscal). There are clearly signs of an upturn in the economy.
With a normal monsoon next year, we hope to achieve a growth
rate of over seven per cent," he said addressing the inaugural
of the India Economic Summit organised by WEF and CII here.
For this growth to happen, Singh said reforms were
essential, including in insurance that require legislative
changes.
"(We) will strive to build political consensus needed for
these legislative actions to be completed," he said, adding
that a reformed financial system would help provide the
finances needed for the country's development, especially for
infrastructure.
He said the current economic showing indicated the
resilience of the country and also "vindicates... the
corrective action taken by the government to manage the
(impact of the global economic) downturn - like other
countries we resorted to a significant stimulus and we will
take appropriate action next year to wind this down." MORE PTI
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