Erasing poverty 'a pipedream': Indian PM
NEW DELHI — Indian Prime Minister Manmohan Singh said Friday that erasing poverty in a country of nearly 1.2 billion people will remain a "pipedream" unless the country steps up its…
NEW DELHI — Indian Prime Minister Manmohan Singh said Friday that erasing poverty in a country of nearly 1.2 billion people will remain a "pipedream" unless the country steps up its growth rate.He told parliament that he expected India's economy to grow at least 7.2 percent in the current financial year to March 31, eight percent next year and be back at pre-financial crisis levels of nine percent the following year.Before the global slump, India posted three successive years of at least nine percent growth.The Congress prime minister said it was urgent to increase growth to be able to "soften the sharp edges of poverty" in the country, where the World Bank estimates 76 percent of the population live on less than two dollars a day."If we do not grow fast enough, we may talk about eradicating rural poverty, expanding education -- but they will all remain a pipedream," he said."That is why it is very important that the economy should get back to nine percent or more growth," he said.He added that if the country is able to improve its dilapidated ports, roads and other infrastructure, improve education and other social sectors and reduce corruption "we will be able to enter the age of double-digit growth"."This is the vision our government is waiting to realise," he said. Copyright © 2010 AFP. All rights reserved. More »
last modification 2010-03-05 14:45:02
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