The Hindu : Economy strongest now: Jaswant

Online edition of India's National Newspaper
Wednesday, Feb 25, 2004

National

National

Economy strongest now: Jaswant

By Our Special Correspondent

JAIPUR, FEB. 24. The Union Finance Minister, Jaswant Singh, today claimed that the country's micro economic fundamentals had never been so strong as they were at present. "The economy is stronger than ever before in the past 50 years and the impact is visible in industry, agriculture and the service sector," he said.

The gross domestic product recorded a growth of 8.9 per cent in the third quarter, while the inflation rate — as it was visualised in the interim budget speech — would be between 4 and 4.5 per cent, Mr. Singh said addressing mediapersons here. He was here to launch the "Atal Sandesh Yatra."

Harping mostly on the theme of "feel good," Mr. Singh reeled out figures to bring in a sense of well-being among the countrymen on the eve of the Lok Sabha elections. Responding to a query on the impact of leak of nuclear weapons know-how from Pakistan, he brought in the aspect of India's excellent nuclear safety standards. "It is now internationally recognised that India's record in ensuring the principles of nuclear safeguards is exceptional," he said.

The country was moving towards the target of achieving zero borrowings. As such the borrowings by the States were with the knowledge and sanction of the Union Finance Ministry, he said.

There was reason to be happy about the country's population as India was the "youngest" country in the world. "One of the great strengths of India is the age of its people. Going by the age of the citizens, we are the youngest country. We have a tremendous advantage in this," he said citing the case of Germany, which had a population of 70 per cent elderly people.

On his Government's claims on employment generation, especially in the context of over 40,000 youth turning up on the outskirts of the city here for recruitment of 82 constables for the CRPF, Mr. Singh asserted that job opportunities were growing. Unfortunately the common man's perception of jobs in the past 50 years had been government jobs.

Printer friendly page
Send this article to Friends by E-Mail

National