News: Manmohan bullish on India's growth

(PTI 26/10/2006) Mahaboobnagar - Prime Minister Manmohan Singh expressed confidence that the Indian economy would expand by 10 per cent in the near future and poverty afflicting millions be eradicated in the next 10-20 years.

"Today, India is developing at a rapid pace. A growth rate of 8-9 per cent, which was not considered feasible a few years ago, is not only possible now but we can hope to grow at 10 per cent in the near future", he said after laying the foundation stone of the four-lane road at Kothakota near Mahaboobnagar.

The Planning Commission's Approach Paper for the 11th Five-Year Plan has already set a growth target of 10 per cent in the final year of the plan (2011-12).

"With such a rapid growth, it is our expectation that in the coming 10-20 years, we will be in a position to remove the ancient scourges of poverty, illiteracy and unemployment from our country," he said.

"On completion of the ongoing development projects, these will lead to an increase in our agricultural and industrial growth and a complete change in the prospects of the country," he added.