New Delhi, 12th March, 2012 Honourable Members 1.I welcome you to this session which marks the halfway of my Government. I hope this session will be productive and useful. 2.The current year has been a difficult one for the world economy. Economic uncertainties have had an adverse impact across the globe. There is increased political uncertainty and turbulence in the international system and the environment in which we operate has become more challenging over the last one year. Our economy grew at a handsome rate of 8.4 per cent in 2010-11, but it has slowed down to about 7 per cent this year. This remains a healthy growth given current global trends. 3.The long-term fundamentals of the Indian economy remain robust. India’s growth prospects arise from factors such as high domestic savings and investment rates, favourable demographics, and a stable democratic polity. My Government is confident that it will soon steer the country back to the high growth trajectory of 8 to 9 per cent. 4.My Government has remained committed to providing an honest and more efficient Government and has taken several further important steps towards that end. A formidable and unprecedented array of Bills has been introduced in the… Read full this story
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