SME Times News Bureau | 22 Apr, 2013
Prime Minister Manmohan Singh Sunday stressed the need to
build a climate favouring enterprise and investment while Observing that the
current economic downturn was only temporary.
"I believe that we are facing only a temporary downturn that we should
correct as quickly as possible...more needs to be done, especially for building
a climate that is perceived to be friendly to enterprise," Singh said
inaugurating the 8th Civil Services Day function here.
Addressing the participiting bureaucrats, the prime minister said: "Many
of you work in areas and organisations that have a direct bearing on the
achievement of this task (attracting investment), and I would urge you to give
the maximum possible attention to it."
The country's GDP growth rate slipped to a decadal low of almost 5 percent in
Emphasising the need for boosting investment across sectors, Mnmohan Singh said
the government has taken a major initiative in setting up the Cabinet Committee
on Investment for speedy clearance of industrial and infrastructural projects.
He said in the last two decades or so, the role of the government has undergone
a major transformation in many sectors of the economy.
"We have moved far away from the command and control economy of the
earlier times. Ensuring good governance and managing the economy today are
"How to ensure that our Civil Services have the required sets of skills to
manage this complexity is a major challenge before us. I would urge you to
consider ways and means of meeting this challenge," he said.