The Hindu Business Line : Vajpayee upbeat on growth pace

The Prime Minister, Mr Atal Bihari Vajpayee, the BJP President, Mr Venkaiah Naidu, and the Deputy Prime Minister, Mr L.K. Advani, at the National Executive meeting of the party in Hyderabad on Sunday. — A. Roy Chowdhury

Hyderabad , Jan. 11

THE Prime Minister, Mr Atal Bihari Vajpayee, today said that the country was heading towards peace and prosperity and the entire world had recognised India as a major economic power.

Given the backdrop of the `booming' economy, the country is set to be an economic superpower by 2020, he said while addressing a public meeting of the Bharatiya Janata Party here today.

"The economic reform process will continue and the recent announcements by the Finance Minister are aimed at giving further impetus to the economy. For instance, the Rs 50,000-crore special development fund will be implemented with immediate effect and it will boost the development process. Further, a Rs 10,000-crore fund for development will help small industries avail themselves of cheaper interest rate loans for their projects," he explained.

"The New Year has ushered in a new agenda for growth where youth and extremist elements will have to shun violence and join the main stream as violence cannot achieve anything. This will only be counter-productive and receive adverse publicity abroad and deter investors. Extremism in some States has deterred investors. This is not good for the country," he said. Referring to the current winds of change where India has moved to a leadership position in the region, Mr Vajpayee said a great future beckoned the youth. Indian youth are in great demand all over the world, be it information technology or other related spheres. However, there have been some irritants with regard to outsourcing that are temporary.

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