ID :
13549
Wed, 07/23/2008 - 12:38
Auther :
Shortlink :
http://m.oananews.org//node/13549
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India set to become an economic superpower: Chidambaram
New Delhi, July 23 (PTI) Asserting that India was on way to become an economic super power with the end of its nuclear isolation, Finance Minister P. Chidambaram Tuesday said thenation should emulate China for faster growth.
Terming the current fiscal as a "difficult year" for the economy, he said despite the odds the nation would end up with a higher growth rate than that witnessed during the six yearsof National Democratic Alliance (N.D.A)rule.
Participating in the debate on the confidence vote, he said, "I have no hesitation in saying that I do not envy China. I want to emulate China. I want India to become an economic power, an economic super power." Congratulating Prime Minister Manmohan Singh for his leadership, he said, "The government has charted out a new path which will end India's nuclear isolation which will pave the way for India becoming an economic superpower." Giving the details of the performance of the Indian economy during the U.P.A. rule vis-a-vis that of BJP-led NDA, he said compared to an average of 5.8 percent growth in the previous regime, the economy grew at an average of 8.9 percent during the first four years of the United Progressive Alliancerule.
Dubbing the year 2007-08 as a "watershed" year in India's agriculture history with record foodgrain production of 230.7 million tonnes, Chidambaram said, "This came about through far-sighted plans and a missionary approach and an attention to details." The revised agricultural estimates would take the Indian economy to a 9.1 percent growth in 2007-08, thus help redeem the government to grow at over 7-8 percent as targeted in thecommon minimum programme, he said.
Asserting that no government has done more for farmers than the U.P.A. dispensation, Chidambaram said, "We have launched various schemes, including the loan-waiver scheme and the Aam Aadmi Bima Yojna, and increased the farm credit three times since 2003-04." "Never before in the history of this country has the government undertaken a loan-waiver scheme," he said, adding that the total relief of Rs 66,477 crore has been given to3.63 crore farmers.
"I have more than fulfilled my promise made to the House.
But for the loan-waiver and debt-relief scheme, these three crore farmers would not have been entitled for loans," theFinance Minister said.
In order to deal with the issue of suicides by farmers in a systematic manner, he said, "We have increased farm credit from Rs 86,000 crore in 2003-04 to Rs 2.5 lakh crore in 2007-08 and has set a target of Rs 2.8 lakh crore in the current year." He said the National Rural Employment Guarantee Scheme in less than 15 months has been rolled out to all rural districtsof the country.
Taking a dig at the Left, he said, "There are some peoplein the country who do not want India to catch up with China...
they do not want India to be ahead of China," and added that no one is clear about the stand of Left parties on the nuclearissue.
Amidst noisy scenes by the targeted Left parties, he said, "Some people want China to become an economic super power..." He said a country as large as India should be compared with China. "When we talk about India, we should talk about countries which are as large and as complex as India and that is China...We cannot talk about countries which are smaller than India and poorer than India," he said. PTI DP RRD
Terming the current fiscal as a "difficult year" for the economy, he said despite the odds the nation would end up with a higher growth rate than that witnessed during the six yearsof National Democratic Alliance (N.D.A)rule.
Participating in the debate on the confidence vote, he said, "I have no hesitation in saying that I do not envy China. I want to emulate China. I want India to become an economic power, an economic super power." Congratulating Prime Minister Manmohan Singh for his leadership, he said, "The government has charted out a new path which will end India's nuclear isolation which will pave the way for India becoming an economic superpower." Giving the details of the performance of the Indian economy during the U.P.A. rule vis-a-vis that of BJP-led NDA, he said compared to an average of 5.8 percent growth in the previous regime, the economy grew at an average of 8.9 percent during the first four years of the United Progressive Alliancerule.
Dubbing the year 2007-08 as a "watershed" year in India's agriculture history with record foodgrain production of 230.7 million tonnes, Chidambaram said, "This came about through far-sighted plans and a missionary approach and an attention to details." The revised agricultural estimates would take the Indian economy to a 9.1 percent growth in 2007-08, thus help redeem the government to grow at over 7-8 percent as targeted in thecommon minimum programme, he said.
Asserting that no government has done more for farmers than the U.P.A. dispensation, Chidambaram said, "We have launched various schemes, including the loan-waiver scheme and the Aam Aadmi Bima Yojna, and increased the farm credit three times since 2003-04." "Never before in the history of this country has the government undertaken a loan-waiver scheme," he said, adding that the total relief of Rs 66,477 crore has been given to3.63 crore farmers.
"I have more than fulfilled my promise made to the House.
But for the loan-waiver and debt-relief scheme, these three crore farmers would not have been entitled for loans," theFinance Minister said.
In order to deal with the issue of suicides by farmers in a systematic manner, he said, "We have increased farm credit from Rs 86,000 crore in 2003-04 to Rs 2.5 lakh crore in 2007-08 and has set a target of Rs 2.8 lakh crore in the current year." He said the National Rural Employment Guarantee Scheme in less than 15 months has been rolled out to all rural districtsof the country.
Taking a dig at the Left, he said, "There are some peoplein the country who do not want India to catch up with China...
they do not want India to be ahead of China," and added that no one is clear about the stand of Left parties on the nuclearissue.
Amidst noisy scenes by the targeted Left parties, he said, "Some people want China to become an economic super power..." He said a country as large as India should be compared with China. "When we talk about India, we should talk about countries which are as large and as complex as India and that is China...We cannot talk about countries which are smaller than India and poorer than India," he said. PTI DP RRD
