New York: Speaking at the New York Stock Exchange
to the leaders of American industry, representing a cross-section
of 17 companies which account for a trillion dollars of
assets, prime minister Manmohan Singh on Wednesday promised
that the United Progressive Alliance government would
take ''hard'' decisions to free the economy from bureaucratic
controls and assured them that compulsions of coalition
politics and Left support will not derail reforms.
needs $150 billion investment on a conservative estimate
for the next few years for a ''quantum leap'' in the infrastructure
sector over which he claimed there was maximum ''political
economy grew at an average of 6 per cent in the early
1990s and it is our expectation that it can grow at 7-8
per cent," Singh said adding, "We will take
all the hard decisions to realise this ambitious target.
government had in the 1990s shown that the economy could
move on a high growth trajectory and "I wish to assure
you that this is a task that can be accomplished and we
will," Singh affirmed.