Sonia: India cannot remain unaffected by global eco meltdown

NEW DELHI: Expressing concern on the global meltdown, Congress President Sonia Gandhi has said that India cannot remain unaffected by what is happening elsewhere but added that the government has been "alert" on the issue.

"The world economy is going through a recession ... India cannot remain wholly unaffected by what is happening elsewhere," she said in the latest issue of party mouthpiece 'Congress Sandesh'.

Hailing the UPA government on the economic front, she said, "However, our government has been very alert and has already announced two stimulus packages to ensure that our economy continues to grow, that our small and medium enterprises continue to get bank credit, that our employment intensive industries like textiles continue to expand and interest rates for those families wanting to buy houses reduces."

Gandhi said that the government has also announced measures to ensure that developmental expenditure in vital areas like agriculture, rural development and infrastructure is maintained at high levels.

An editorial in the Congress Sandesh on the economic meltdown said that the global crisis is a consequence of the rampant and aggressive profiteering that has become the cornerstone of economic policy in the developed world in the last decade.