Pranab Mukherjee promises steps to lift economy
FM in newly-formed Cong-led govt, Pranab Mukherjee, said strenuous efforts will be made to protect economy from fall outs. Ministers in Manmohan Singh govt
By ET Bureau |
NEW DELHI: FinanceMinister in the newly-formed Congress-led government, Pranab Mukherjee, said on Saturday that ���strenuous efforts��� will be made to protect the economy from the fall outs of the global financial crisis.
���The Indian economy is resilient and strong and we shall have to build up and come back to the growth track as early as possible.
Major economic issues have to be addressed, and efforts will be made to insulate the economy from the adverse impact of the financial meltdown,��� the veteran Congress leader told reporters at his residence, soon after a Rashtrapati Bhavan communiqu�� named him finance minister.
The Congress-led coalition���s return to power last week was greeted with historic rallies in the country���s stock markets as expectations build up on the government taking decisive steps to boost the economy and undertake reforms.
The economy had posted an average growth of 8.9% growth in the first four years of the previous government and appear to have expanded at a lower rate of over 6% last fiscal as the global financial meltdown spread the world over.
���The Indian economy is resilient and strong and we shall have to build up and come back to the growth track as early as possible.
Major economic issues have to be addressed, and efforts will be made to insulate the economy from the adverse impact of the financial meltdown,��� the veteran Congress leader told reporters at his residence, soon after a Rashtrapati Bhavan communiqu�� named him finance minister.
The Congress-led coalition���s return to power last week was greeted with historic rallies in the country���s stock markets as expectations build up on the government taking decisive steps to boost the economy and undertake reforms.
The economy had posted an average growth of 8.9% growth in the first four years of the previous government and appear to have expanded at a lower rate of over 6% last fiscal as the global financial meltdown spread the world over.
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Mr Mukherjee, however, declined to comment on whether he intended to present a vote-on-account first. ���I hope to present the budget in due course so that uncertainties can be avoided.��� Industry chambers were happy with Mukherjee being given the finance portfolio. He had held additional charge of the ministry since January as PM Manmohan Singh had to undergo a heart surgery.
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