11-13-2010, 10:09 AM
India's economy is expected to grow 8.5 percent in the current year and 9 percent in 2010/11, Prime Minister Manmohan Singh said on Friday.
"However, high unemployment in industrialised countries threatens a revival of protectionist sentiment, especially since the use of conventional monetary and fiscal tools to revive the economy has been exhausted," he said in a speech at the plenary session of the G20 summit in Seoul.
India's economy grew 9 percent in each of the four years prior to the economic crisis but slowed to 6.7 percent growth in 2008/09.
"Uncertainty about the prospects of inudstrialised countries affects the investment climate and dampens the medium-term growtn prospects of emerging market countries," Singh said.
"However, high unemployment in industrialised countries threatens a revival of protectionist sentiment, especially since the use of conventional monetary and fiscal tools to revive the economy has been exhausted," he said in a speech at the plenary session of the G20 summit in Seoul.
India's economy grew 9 percent in each of the four years prior to the economic crisis but slowed to 6.7 percent growth in 2008/09.
"Uncertainty about the prospects of inudstrialised countries affects the investment climate and dampens the medium-term growtn prospects of emerging market countries," Singh said.
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