PM, PC sell growth story to ADB

Greater Noida, May 4: Prime Minister Manmohan Singh on Saturday said the government is taking steps to make India a more attractive investment destination with a view to achieve over 8 per cent economic growth in the 12th Five-Year Plan.

Inaugurating the 46 annual general meeting of the Asian Development Bank here, the PM said, “We are initiating measures to spur investment and to make India more attractive to investors. We have taken steps to fast track major infrastructure projects.”

Mr Singh assured the international audience, comprising of finance ministers and Central bank governors of several countries, that India is taking strong measures to achieve fiscal consolidation and high economic growth.

Speaking at the venue Union finance minister P. Chidambaram said, that India story of investment is “just starting out”.

“As I am fond of saying, India’s story on investment is just starting out. We have permitted FDI in areas such as multi-brand retail, power exchanges, aviation and broadcasting,” he said. The finance minister also added that the CCI has cleared several major projects, including those in the oil and natural gas sectors.

Mr Chidambaram, who is also chairman of the ADB board of governors, said the government is determined to accelerate the pace of inclusive growth. — PTI