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Updated: May 22, 2012 21:37 IST

Manmohan highlights growth, uncertainities

PTI
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Prime Minister Manmohan Singh addresses UPA leaders during the release of the 'Report to the Peaple' on completion of three years of UPA Government at a dinner with alliance partners, in New Delhi. Photo: Sandeep Saxena
Prime Minister Manmohan Singh addresses UPA leaders during the release of the 'Report to the Peaple' on completion of three years of UPA Government at a dinner with alliance partners, in New Delhi. Photo: Sandeep Saxena

Celebrating its eighth year, the United Progressive Alliance (UPA) government, on Tuesday, sought to smash the perception of policy paralysis by saying that India is the world’s second fastest growing economy even as Prime Minister Manmohan Singh admitted that there are “uncertainties” and more needed to be done.

Releasing The Report to the People here along with UPA Chairperson Sonia Gandhi, Dr. Singh acknowledged that there is “frustration” among people over corruption and said the government was working sincerely to address it through legislative and administrative measures.

He highlighted the initiatives and achievements in various fields including economy, agriculture, education, poverty eradication, healthcare, power generation, internal security and foreign policy.

Dr. Singh said that despite an adverse international environment, the Indian economy grew at about seven per cent in 2011-12, which is amongst the highest in the world.

“Sustained high rates of growth during the UPA government’s tenure have enabled us to pursue our agenda of inclusive and equitable growth,” he said.

“Despite these real achievements, there are uncertainties and a large unfinished agenda before us,” he said.

Turning to economic situation, Dr. Singh said difficult decisions have to be taken on both spending and revenue mobilisation as he underlined the need for both the Centre and states have to be “fiscally responsible.”

However, when asked later to specify the tough decisions, Dr. Singh told reporters, “let us wait. Sometimes some things will be obvious.”

On the perception of policy paralysis, he said, “this can be corrected by reality. Misconceived perceptions can be corrected.”

Ms. Gandhi, while highlighting the achievements of the UPA government, underlined that the result of the next Lok Sabha elections will depend on the “nature of work done by us” and not the promises.

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Dr.Manmohan Singh as always has presented a balanced picture of the state of the economy. It is customary in our country to put all the blame for misgovernance on either the Prime Minister or the Chair person of Congress. The fact is the aspirations of the public have increased manifold and nothing short of the best is acceptable in the changed environment. Every citizen of the country has to contribute to change the face of the country and place it on the high road to progress. The political class irrespective of party affilations too has to contribute and not wreck vengeance with an eye on the hustings.
The opposition speaks in two voices, one in private in discussions with the ruling coalition and another in public to denigrate those in power. Let the opposition spell out what it intends to do if voted to power so that the public can discern and vote accordingly. There will always be an unfinished agenda in the life of a country and how speedily we cross each milestone is vital.

from:  R.Vijaykumar
Posted on: May 23, 2012 at 05:56 IST

Everyone agrees India has tremendous potential. So the following is
all the more puzzling: Quandary 1. What is the real rate of growth if the inflation rate is higher than the nominal growth rate?
Q2. Most economists agree that the burden of inflation falls much more harshly on the poor than any other group. So, how has “Sustained high rates of growth", along with sustained high rates of inflation, delivered "inclusive and equitable growth”?
Q3. Is it “fiscally responsible” for the RBI to print money, when the
inflation rate is already very high?
Q4. Could the slowing down of this nominal growth rate, stoking of
runaway inflation, "a large unfinished agenda" (an euphemism for what
critics call policy paralysis?) - leaving aside business uncertainties
arising from reversal of govt decisions allegedly won with bribe or
retrospective taxation - be causing foreign investors to take fright,
and vote with their feet as they seem to be doing?

from:  D Mahapatra
Posted on: May 22, 2012 at 22:49 IST

PM has rightly osberved that mistakes can be corrected, that policy
paralysis can be corected. On the civil services day, he gave a
clarion call to the civil servants that they will be given the full
freedom to work fearlessly. He made such a postiive statement because
he knew the civil servivces are our pivotal institution. But this
evening I was shocked to hear Digvijay Singh perorate in a TV
interview that “babus are responsible for policy paralysis”. Not only this is factually wrong but is also mischievous and sets to nought what the PM has said the other day.Let us understand that but for civil servants we would have sunk even further down because of the corrupt politicians;. We should protest at such iresoponsible statements agaisnt civil servants. Let them not be used as punching bags by politicians.

from:  s.subramanyan
Posted on: May 22, 2012 at 21:55 IST
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