Mumbai - The basic strategy to bring the country's economy back on track has to be to stimulate domestic demand, Finance Minister Pranab Mukherjee Saturday said, addressing concerns of industry and credit rating agencies over the current turmoil in the sector.
"The basic strategy should be to stimulate the domestic demand ...we are competent enough to rise to the task of meeting grave challenges," Mukherjee said here at a seminar organised by industry lobby Associated Chambers of Commerce and Industry (Assocham). He said that the country has the resilience to face grave challenges.
"As the finance minister, I cannot ignore the ground reality, apprehensions of Indian industry and credit rating agencies," he said, adding that the government was taking due note of the concerns raised by the rating agencies.
Global rating agency Standard & Poor's has said that India could become the first of the BRICS - Brazil, Russia, India, China, South Africa - economies to lose its investment-grade status.
| Other Articles: |
 |
Australia eyes 50 million potential Indian globetrotters (16th Jun, 2012) |
|
Fiat sales take a hit in Europe (16th Jun, 2012) |
|
Rare Apple 1 computer sold for staggering Ă‚ÂŁ240k at Sotheby's auction (16th Jun, 2012) |
|
Gupta's lawyers claim prosecutors lacked 'hard, direct' proof in insider trading case (16th Jun, 2012) |
|
Facebook technology chief Bret Taylor quitting to start new firm (16th Jun, 2012) |
|
Foreign holdings of US debt hit record high (16th Jun, 2012) |
|
Getting a good job dependent on luck: Survey (16th Jun, 2012) |
|
ITC, Bangalore airport get GreenCo awards (16th Jun, 2012) |
|
CNG supply to be affected in South Delhi: IGL (16th Jun, 2012) |
|
A 1980s polled 'best decade for gadgets' (15th Jun, 2012) |
|
Sensex gains 272 points on rate cut hope, global cues (15th Jun, 2012) |
|
L&T bags orders worth Rs.1,076 crore in Q1 of 2012-13 (15th Jun, 2012) |
|
Essar commissions 2nd unit of Salaya power project in Gujarat (15th Jun, 2012) |
|
Obama, Manmohan to work together to boost global economy (15th Jun, 2012) |
|
Tata Motors' May sales up 12 percent (15th Jun, 2012) |
|
BSkyB and BT shares drop over fears they overpaid for Premier League football screening (15th Jun, 2012) |
|
Jindal Steel & Power Ltd. shuts Bolivian iron mine following failure to receive government assurances (15th Jun, 2012) |
|
Malaysian government urged to promote Indian business community in country (15th Jun, 2012) |
|
US judge rules Apple must defend 'users' activity tracking' lawsuit (15th Jun, 2012) |
|
Oz online retailer imposes 'world's first tax' on Microsoft Internet Explorer 7 (15th Jun, 2012) |
|
Coca-Cola resumes business in Burma after 60 yrs (15th Jun, 2012) |
|
Microsoft's Hotmail revamped as 'Newmail' to take on rival Gmail (15th Jun, 2012) |
|
Allen Stanford jailed for 110 years for $7 bn Ponzi scam (15th Jun, 2012) |
|
Sensex rises 159 points; auto, banking stocks surge (15th Jun, 2012) |
|
Amul's India: The 50-year-campaign in fine print (15th Jun, 2012) |
|
Jobs |
Blog |
Yellow Pages |
Games |
Jokes |
Chat |
e-Cards |
Astrology |
Articles |
Recipes |
Send Gifts
Today : Monday - May 20, 2013, 06:41am (GMT+5.5)
