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Home -> Finance -> Full Story

Manmohan's statements on economy elates industry
Thursday, May 20 2004 15:47 Hrs (IST)

New Delhi: After days of uncertainty, the industry has drawn comfort from Prime Minister-designate Manmohan Singh's statement making it clear that investor-friendly economic policies would be followed by the new Government, and expressed confidence that growth will be maintained through well thought out economic programme.

"We are confident that growth in the economy will be maintained by well thought out policies... Singh's statement that investor friendly economic policy would be followed has given some comfort to the industry. Overall, he has given very positive signals," CII director general (designate) N Srinivasan said.

However, he said there is indication that there would be some change in the emphasis on disinvestment programme with some fine-tuning, which would be known after the Common Minimum Programme is unveiled.

Srinivasan said Singh had emphasised on employment generation and removal of poverty as key areas of his economic programme, thus making it clear that development would the focus of economic policies.

Assocham also welcomed Singh's statement and hoped that next five years of his Government will lay the foundation for robust growth of the economy and usher prosperity in the country.

PTI