RTTNews - India's Minister of State for External Affairs, Preneet Kaur, asserted that the country fared better than many other countries during the recent economic meltdown, though the crisis affected the country, with growth declining to 6.7% in 2008-09, reports PTI.
Addressing the UN Conference on World Financial and Economic Crisis at New York, she said that India effectively utilized its fiscal and monetary policy along with focus on fiscal stimulus in infrastructure investment. She also said that the India's priority was to get rid of chronic poverty, ignorance and disease that still affected millions of its countrymen, and added that a high growth rate was essential for effecting that.
The Minister said that the country would achieve this through huge investments in rural and farm sectors, a massive rural employment guarantee scheme, infrastructure development projects, major national food security and rural health missions, and an urban renewal mission.
She expressed confidence in the G-20 framework aimed at redressing the current global economic situation to bring the global economy back to sustained growth.
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