PM says GDP growth can bounce back, Japan Inc to invest in infra projects

By Accommodation Times News Service

Prime Minister Manmohan Singh, expressed confidence that the economy will return to the growth path of 8%. Inviting Japanese investments in the infrastructure sector, he told captains of the industry here that a target of $ 1 trillion has been set for the sector in the 12th Five –Year Plan (2012-17) and hoped that Japanese investors will pick up a large share of these opportunities.  In a meeting, the premier chamber of commerce and industry said, “Our people have tasted benefits of rapid growth and they will not settle for less. I want to assure you that our government is committed to taking hard and difficult decisions in the long-term interest of our economy,” The 5% growth witnessed last year should be seen as a ‘temporary slow down’, he said, adding “the Indian economy grew at an average of 8% per year over the past decade. “The economic fundamentals which made that possible are still intact. We are confident, therefore, that we can return to the growth path of 8%.”The Prime Minister also assured business leaders that India would be taking more steps to attract foreign investments. “We have taken tangible steps to enhance incentives for investments. We have liberalized foreign investments

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