Saturday, June 13, 2009

High Economic Growth: The Target of New Indian Government

The new Indian government that got elected in the general election of last month’s is now settled. It is the time to set priorities for the new prime minister. President Pratibha Patil gave a speech to the new members of parliament and she talked about some of the things that the new government will try to focus.

BBC reported:

There would be higher investment in sectors such as infrastructure, while maintaining fiscal prudence, she said.

“The current financial year is expected to see a slowing down of growth on account of the global recession.

“Our immediate priority must be to focus on management of the economy that will counter the effect of the global slowdown.”

She said the government would take steps to encourage foreign investment in-flows, list shares in state-run firms and provide banks with more capital.

There are a lot of expectations among the business community because the new government has comfortable majority and they do not need to be dependent on the leftist parties.

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