Manmohan About Global Economic Recession

Tuesday, September 1, 2009 at 4:28 pm under Business News

NEW DELHI : Indian Prime Minister Manmohan Singh said on Tuesday that the global economic recession, which has stymied the expansion of India’s fast-growing economy, was coming to an end.

India has “been through a difficult year because of the global economic downturn which is only now coming to an end, with a slow return to normalcy in the months that lie ahead,” Singh told a meeting of economic experts and ministers.

Singh’s remarks came a day after official data showed India’s economy growing by 6.1 percent in the three months to June, signalling the country was emerging from the negative effects of the global downturn. Singh’s government has implemented a series of stimulus packages and the central bank has slashed interest rates aggressively to stimulate the economy.