Click to play videoNew Delhi: India will sustain a growth rate of eight per cent despite the adverse impact of the global financial crisis, Prime Minister Manmohan Singh said on Friday.
Speaking at the Hindustan Times Leadership Summit, Manmohan Singh exuded confidence that India had the "resources and the wisdom to grapple and deal" with the crisis.
“Global economy is going through choppy waters; we can and we will surely survive,” he said.
Lashing out at politicians, Manmohan Singh said competitive politics must not be allowed to divide society on religious and caste lines.
Replying to questions after delivering the inaugural address at the Leadership Summit, Singh said the Government had anticipated the global slowdown and taken measures in the budget.
On economy
Observing that the global economy was passing through a "deep crisis", the economist-turned-politician said "we cannot pretend that we are not affected by it.
"The crisis was not made in our country but elsewhere. ... Due to the interdependency (of the world economies), we are in the same boat," the Prime Minister said.
Noting that global problems required global solutions, he said there was a need for a global safety net.
Maintaining that he had urged the G-20 to create a global safety net, the Prime Minister said this was required to ensure that the poor did not pay the price for the "delinquency" of the rich.
On politics
With communal violence in some states weighing heavily on his mind, Singh said, "competitive politics must not be allowed to divide the people on the basis of religion, caste or region."
He said cooperative pluralism and respect for diversity was the basis of democracy.
With the term of the UPA government coming to an end, the Prime Minister said his ambition for the 21st century was a fully educated and empowered India.
"The light of knowledge should touch every child," Singh said as he recalled his rise from a "dusty village" in Punjab to the top office only because of education. "My dream for myself was realised in my own lifetime."
On Obama
PM Manmohan Singh said he was confident US-President elect Barack Obama's administration would tackle the crisis.
“President Bush assured me that his admin was in constant touch with the Obama admin and from what one knows and what one has heard about Presiddent Obama’s view point, I think there are reasons to hope,” he said.
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