Prime minister Mamohan Singh, who has inaugurated the two day annual Confederation of Indian Industries-CII at New Delhi on Wednesday, has expressed his grievance over the low growth rate this year. He has said that the five per cent growth rate was disappointing. Stressing on the need to improve the growth rate, Manmohan Singh has said that efforts should be made to reverse the dip in the private sector investment. Although prime minister appeared unhappy over the slow economic growth rate, he however termed it as temporary and exuded confidence that better growth would be achieved soon.

Talking about the measures being taken by the Centre, Mr Manmohan Singh said steps are being initiated to rationalize the subsidy on various products. Further, he has said that Aadhaar card (the unique identification authority number) will be helpful in reaching their subsidy targets. It has to be mentioned that over 1000 top business magnates from all over the country are taking part in the CII.

(AW Phani)