PM sees 9-10 per cent growth in medium term

Projecting a 9 to 10 per cent growth rate in the medium term Prime Minister Manmohan Singh today said efforts should be made to remove "deficiencies" to enhance productivity across all sectors of the economy.

He said the country's economic performance in the last few years has been "impressive" and is poised to move to a trajectory of sustained high economic growth, which is essential for fighting persistent poverty, hunger and disease that still afflicts millions of people.

"Our aim is a growth rate of nine to 10 per cent in the medium term. But this will not happen automatically. There are deficiencies we will have to remove and strengths that we will have to acquire," he said presenting the Prime Minister's Shram Awards for 2005, 2006 and 2007.

To achieve this ambition, Singh said efforts should be made to enhance productivity across all sectors of the economy.

Noting that the resources are limited and need to be utilised optimally, he asked the people to pay greater attention to "cutting costs and boosting the quality of the products and services."

In his award speech, the prime minister said, ''In the last six decades, our country has travelled a long distance on the path of economic development. The credit for this goes in no small measure to the millions of men and women who have toiled to build India's physical infrastructure, our roads, ports, airports, hydroelectric projects and giant industrial complexes all over our country.''