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Ratan Tata: Manmohan Singh is not to be blamed for the economic mess-

New Delhi, July19 () : Ratan Tata has appealed to Dr Manmohan Singh to break convention and bring in the reforms to put the economy back on the rail. He also said that the PM is not to be blamed for the economic mess.

He said the reforms that should have come 12 months back but precious time was lost and this has shaken investors’ confidence. It was not as bad many industry captains, media and opposition show no mercy on the PM. He asked that how could the man who ushered economic reforms in 1991 and put India on the route to success could now fail.

Feeling depressed over the attacks on the PM from opposition and private citizens on PM and India, Tata tweeted saying he was obliged to express his feelings. He described PM as a warm-hearted person.

Reuters poll predicts that growth predictions for India continue to be slashed further in six consecutive quarterly polls. All the 17 economic analysts who took part in this survey have last downgraded their growth forecasts for this fiscal year too and next.

Last week, the International Monetary Fund (IMF) report also sharply downgraded growth this fiscal estimates for India to 6.1 percent this fiscal year and 6.5 percent in the next.

Yet another Reuters poll says not only India, the optimism around growth for Asia is weak due to  the world’s biggest economies slowing considerably this year,which has compelled central banks to keep policy to accommodate for longer downturn even though the worst of the downturn may be over.

Reports suggest that China’s economy is expected to weaken to 8.0 percent this year, which many consider is the borderline between a forthcoming severe slowdown and a mild one. At the same time the growth prospects for India was slashed to 6.3 percent this financial year.]]>

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