The Indian economy is going through a "difficult period" and is likely to grow slower than previously expected 6.5 percent for the year ending March 2014, Prime Minister Manmohan Singh said on Friday. Singh, speaking at an industry event, said the UPA government would unveil more reforms for foreign direct investment (FDI), but he gave no details. "We are committed to bringing the current account deficit under control by addressing the demand side and supply side of the problem. On the demand side we need to reduce the demand for gold and the demand for petroleum products, the two biggest components of our trade deficit," he told businessmen in New Delhi.
Posted on: Fri, 19 Jul 2013 08:46:31 +0000
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