GOVERNMENT OF INDIA
MINISTRY OF FINANCE
QUESTION NO 1587
ANSWERED ON 16.08.2011
Will the Minister of FINANCE be pleased to satate :-
(a)whether it is a fact that various scams that took place in the country have hobbled reforms and economic growth of the country;
(b)if so, the details thereof;
(c)whether routine decision making by Government has also slowed which has in turn also affected the economic growth of the country; and
(d)the steps taken/being taken by Government to improve the economic growth of the country?
MINISTER OF STATE IN THE MINISTRY OF FINANCE
(SHRI NAMO NARAIN MEENA)
(a) The Indian economy weathered the global economic crisis of 2008 well and bounced back to register real GDP growth (at factor cost at constant prices), of 8.0 and 8.5 per cent during 2009-10 and 2010-11, respectively. The government is actively pursuing economic reforms to help India grow on a sustainable path.
(b) Does not arise.
(c) No, sir.
(d) The Government has pursued prudent macroeconomic policies on an ongoing basis with a countercyclical focus in recent years, strengthened structural measures to promote growth, develop product as well as financial markets, and increased social spending to provide a stronger foundation to protect the poor.
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