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Economy facing difficult times: PM

By The Assam Tribune
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NEW DELHI, June 4 � Citing uncertainties in global economy and rising oil prices due to tensions with Iran, Prime Minister Manmohan Singh today said India is facing �difficult times� but exuded confidence that the �testing� period would be overcome, reports PTI.

Addressing the Congress Working Committee (CWC) meeting here, he said that despite the international slowdown, India�s growth was 7 per cent in 2011-12 which was �one of the highest in the world�.

Referring to the challenges facing the government, he said there were uncertainties in global economy and commodity prices like that of oil were rising due to �uncertain prospects� in West Asia.

�These are difficult times for our country and for our economy, caused to a very large extent by circumstances over which we have little or no control,� Singh said.

�These are times when our will and determination are being tested,� he said, adding �we must stay the course� and �have faith in ourselves�.

He expressed confidence that �we will emerge stronger from these testing times�.

His statement assumes significance as it comes against the backdrop of the GDP growth falling to 5.3 per cent in the last quarter of the 2011-12, the lowest in nine years.

Singh said the UPA government had made every effort to fulfill the promises made to the �aam aadmi� (common man).

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Economy facing difficult times: PM

NEW DELHI, June 4 � Citing uncertainties in global economy and rising oil prices due to tensions with Iran, Prime Minister Manmohan Singh today said India is facing �difficult times� but exuded confidence that the �testing� period would be overcome, reports PTI.

Addressing the Congress Working Committee (CWC) meeting here, he said that despite the international slowdown, India�s growth was 7 per cent in 2011-12 which was �one of the highest in the world�.

Referring to the challenges facing the government, he said there were uncertainties in global economy and commodity prices like that of oil were rising due to �uncertain prospects� in West Asia.

�These are difficult times for our country and for our economy, caused to a very large extent by circumstances over which we have little or no control,� Singh said.

�These are times when our will and determination are being tested,� he said, adding �we must stay the course� and �have faith in ourselves�.

He expressed confidence that �we will emerge stronger from these testing times�.

His statement assumes significance as it comes against the backdrop of the GDP growth falling to 5.3 per cent in the last quarter of the 2011-12, the lowest in nine years.

Singh said the UPA government had made every effort to fulfill the promises made to the �aam aadmi� (common man).

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