Rein in fiscal deficit: Manmohan

NEW DELHI: Former finance minister Manmohan Singh on Monday said that 8 per cent growth would remain only a dream unless hard measures to hasten reforms, including steps to rein in fiscal deficit and reviving the manufacturing and farming sectors, were taken.
“Growth rate is stuck between 5.5-6 per cent. We need far more dynamic policies in two commodity producing sectors — agriculture and manufacturing,� Mr Singh, a senior Congress leader, said here at the release of a book ‘India’s Economy: Some Issues and Answers,’ written by former economic advisor to government of India, Shankar Acharya. Even with 8 per cent growth in services sector, it would not be possible for the country to attain 8 per cent GDP growth (as envisioned in Tenth Five Year Plan) unless the manufacturing and agriculture sectors attained higher growth rates.