May 19, 2009 4:09:31 pm
The new Government will revive economic growth and make it even more inclusive,Prime Minister elect Manmohan Singh said on Tuesday.
Singh,who was re-elected by lawmakers of his Congress party to lead the new coalition,said daunting challenges lay ahead as the global economy was passing through difficult times.
“Equally important is the challenge of reviving economic growth and creating new employment opportunities,” Singh said in a speech to party MPs.
Growth in Asia’s third-largest economy is expected to slow to a seven-year low of about 6 percent this fiscal year from around 7 percent in 2008/09,and from rates of 9 percent or more in the previous years. Millions of jobs have already been lost.
“There is some slowing down of investment and employment generation,we have to reverse this. We have to revive growth and make it even more inclusive,” Singh said.
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