Jan 3, 2014, 6:19 PM
News Code: 80978030
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Indian PM: Cycle of global economic growth turning for better

New Delhi, Jan 3, IRNA -- The cycle of global economic growth is turning for the better, Indian Prime Minister Manmohan Singh said in New Delhi on Friday, adding, 'Many of the steps we have taken to address our domestic constraints are coming into play.'

'India’s own growth momentum will revive,' the Indian prime minister said, addressing a press conferecne in New Delhi.

Singh blamed global commodity and energy prices for persistently high inflation, a factor cited for the drubbing of the Congress in the recently concluded assembly elections.

The Indian prime minister stressed his government would continue to push economic reforms, create a favourable environment for foreign direct investment (FDI) and work harder to generate more employment opportunities in the manufacturing sector.

'So long as we are in power, we will continue to push for reforms...Our government attaches highest priority to reforms...We will continue to implement our policies with vigour and commitment, aiming to revive growth, promote enterprise, generate employment, eliminate poverty,' he said.