New Delhi : Claiming that his government has put the country on a high growth momentum, Prime Minister Manmohan Singh today promised to roll out more reforms in the next few months, reports PTI.
Addressing a press conference, the third as Prime Minister, he blamed global commodity and energy prices for persistently high inflation, a factor cited for the drubbing of the Congress in the recently concluded assembly elections.
Singh stressed his government would continue to push economic reforms, create a favourable environment for foreign direct investment (FDI) and work harder to generate more employment opportunities in the manufacturing sector.
“So long as we are in power, we will continue to push for reforms…Our government attaches highest priority to reforms…We will continue to implement our policies with vigour and commitment, aiming to revive growth, promote enterprise, generate employment, eliminate poverty,” he said.
Singh said real wages in rural areas have increased faster than before and per-capita consumption in both rural and urban areas has increased significantly.
He hoped the Food Security Act, which entitles two-thirds of the population to receive subsidised foodgrains, would shield the common man from rising food prices to some extent.
On economic growth, which slipped to a decade-low of 5 per cent in 2012-13, the Prime Minister attributed the slowdown to global factors but exuded confidence the momentum would revive in the coming years.
“We are set for better times. The cycle of global economic growth is turning for the better. Many of the steps we have taken to address our domestic constraints are coming into play. India’s own growth momentum will revive,” he added.
He said that during the term of the UPA, India for the first time in recorded history witnessed a sudden acceleration of economic growth to 9 per cent.