Prime Minister Manmohan Singh on Saturday said “threats of corruption and crony capitalism,” need to be tackled effectively not only in India but all over the world.

Addressing the Hindustan Times leadership summit, he noted that it is “often said that these are testing times.” But “in fact, I cannot help feeling that we in India are always living through testing times. Indeed, as Prime Minister I sometimes feel like a high school student — going from one test to another.”

He said that “the good news is that though being constantly tested, we are winning...Our youngsters are optimistic and their optimism gives me hope. We must be doing at least some things right.”

Observing India faced diverse challenges, Dr. Singh said, “we live in an era of rising expectations. We live in an era of multiple contestations.” Talking about the new wave of economic growth unleashed in the 1990s, he said reforms did not follow any external recipe. “They were homegrown and calibrated to suit the Indian situation. Initially, many were skeptical of the changes being initiated. Looking back after two decades, one can see that we did manage to do reasonably well,” he said.

Referring to the global meltdown two years ago, Dr. Singh said India cannot say that it was not affected but it was among the few countries that recovered quickly from the crisis.

“We grew at 7.4 per cent last year and hope to achieve 8.5 per cent this year... ” — PTI