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- dEsPeraTe cRaNky -
PM Manmohan Singh on Tuesday gave the Congress-led government full marks for taking the economy on a high growth path in "adverse circumstances" when Europe and most of the developed economies were still reeling under the downturn.
"This performance in highly adverse circumstances indicates the resilience of our economy," Singh said, adding that it also vindicated to a large extent the corrective action taken by the government to manage the downturn.
He justified the stimulus packages and said the recovery owes largely to these measures. The robust growth was the prime driver behind FDI inflows which were to the tune of $25 billion till February 2010.
The desperation of the government to check prices was reflected in the report card which emphasised on availability of enough foodgrain for intervention in the market to keep prices at reasonable level and check inflationary trends.
Nuclear issue also got a mention. The report talked about creating additional capacity in atomic power generation. During 2009-10, the total installed capacity of nuclear power reached 4,560 MWe with 19 reactors being operational and four more under advanced stages of construction that will take the capacity to 7,280 MWe by 2011.
"This performance in highly adverse circumstances indicates the resilience of our economy," Singh said, adding that it also vindicated to a large extent the corrective action taken by the government to manage the downturn.
He justified the stimulus packages and said the recovery owes largely to these measures. The robust growth was the prime driver behind FDI inflows which were to the tune of $25 billion till February 2010.
The desperation of the government to check prices was reflected in the report card which emphasised on availability of enough foodgrain for intervention in the market to keep prices at reasonable level and check inflationary trends.
Nuclear issue also got a mention. The report talked about creating additional capacity in atomic power generation. During 2009-10, the total installed capacity of nuclear power reached 4,560 MWe with 19 reactors being operational and four more under advanced stages of construction that will take the capacity to 7,280 MWe by 2011.