Buddhadeb for joint effort to tackle economic slowdown

Staff Reporter

KOLKATA: West Bengal Chief Minister Buddhadeb Bhattacharjee said on Tuesday that the Centre, the State governments and business entrepreneurs should come together to find a way out of the economic slowdown the country was facing in the wake of the global meltdown.

“The Government of India is trying to face the situation in its own way. I do not know if that is enough,” he said at the inauguration of the 22nd Industrial India Trade Fair here on Tuesday.

Pointing out that India’s growth rate had fallen to 7 per cent in 2008-09 from 8 per cent in 2007-08, he said that the 9 to 10 per cent growth rate by 2012 envisaged by the 11th Five-Year Plan appeared unlikely. Mr. Bhattacharjee said that the drop in the inflation figure was due to the falling crude oil price in the international market. It was not a sign of a strong Indian economy.

“The situation is serious in West Bengal too. But I am an optimist.”

He said he had discussed the issue with Nobel laureate Amartya Sen during his recent visit to the city.

Recommended for you