Many analysts attribute the success of India in weathering financial crisis to the stimulus packages announced by the Government, but Finance Minister Pranab Mukherjee on Monday gave the credit to the spirit of Indians, particularly young entrepreneurs, to overcome the challenges.

“I would never believe that it is simply because of stimulus packages or simply because of certain policy initiatives, but it is the spirit of facing the consequence, accepting the challenges and overcome the challenges which has made India successful in weathering the crisis,” Mr. Mukherjee said here.

At an award function of a news channel, he said there is no spirit of depression in any sections of Indian society.

“One thing has emerged, there is no complacency in any section of the society and at the same time there is no spirit of depression,” the Finance Minister said.

It is particularly the young entrepreneurs which took the challenge to face the impact of the crisis head-on, he said.

“The way the people of India, business leaders from the country and particularly young entrepreneurs they recognise the seriousness and gravity of the situation, and took courage in both hands to face the challenges... is the reason for success of India in tackling the international financial crisis,” he said.

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