(RTTNews) - Assisted by stimulus measures, India’s economy is on relatively faster growth path, despite the global crisis, said President Pratibha Patil in her customary address to the joint sitting of Parliament.

The President expressed confidence that the stimulus measures taken by the government would drive demand for goods and services reviving production activities in manufacturing as well as service sectors. Patil said domestic demand could inject fresh momentum into the economy and noted that banks in the country are well capitalized and face no threat like many banks in other parts of the world.

She said the government policies have ensured that even as the country faces an economic slowdown along with the rest of the world, India’s fundamentals are much better. The Indian economy reported an unprecedented expansion of 8.9% in the past four years, while registering a GDP growth above 9% in the past three years.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2009 RealTimeTraders.com, Inc. All Rights Reserved

Posted in Categories: Economy, Releases, Stocks.

Subscribe by RSS Subscribe by Email