ibnlive » India

Jul 05, 2012 at 10:04pm IST

Indian growth story is intact: Manmohan Singh

New Delhi: Prime Minister Manmohan Singh, speaking out on the road to economic revival in an exclusive interview to Hindustan Times, said that there are five key challenges in the year ahead which needs to be addressed to achieve inclusive growth for Indians and a fair playing field for foreign investors.

Singh whose government had to backdown on major business reforms in the past said, "political consensus is needed for some key economic decisions."

Singh further said that controlling the fiscal deficit, reviving the mutual funds, achieving clarity on tax matters and insurance industries tops the agenda in short term.

"The India Growth Story is intact. We will continue to work, as we have been doing for 8 years, to keep the story going," he said.

The Prime Minister said that steps are being taken to improve response time of the government for business proposals, cut down infructuous procedures and make India a more business-friendly place.

Singh, who has additional responsibility as Finance Minister, said, "We want the world to know that India treats everyone fairly and reasonably and there will be no arbitrariness in tax matters."

Singh said he is ready to visit neighbour Pakistan, though there has to be 'suitable outcomes' for such a visit.

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