Manmohan Singh confident of achieving 8 percent growth

New Delhi, Apr 3 (ANI): Prime Minister Dr. Manmohan Singh on Wednesday said that he is confident of achieving eight percent economic growth despite a disappointing performance over the last couple of years.

He also urged captains of Indian industry to correct the investment environment and reflect more carefully on their social responsibilities.

Inaugurating a two-day annual general meeting of the Confederation of Indian Industry (CII) here, Dr. Singh said the growth process of the country must be made more inclusive.

"We grew at a rate of eight percent in the last ten years, and we can grow like that again," he added.

He further said: Five percent growth is clearly disappointing, but added that the current economic downturn is temporary."

Emphasising on the need to restore macro-economic balance in the country, Dr. Singh expressed confidence that India would achieve the fiscal consolidation target.

Dr. Singh also stressed upon the need to tackle weak export performances and the high current account deficit.

Around 1,500 industrialists from across the country are attending the meeting. The theme for this year's deliberation is "India Tomorrow: Imperatives of Growth, Security and Governance". (ANI)