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Economy to recover by September: PM

Prime Minister Manmohan Singh on Sunday said the world economy will recover "partially" by September and India would then go back to the growth rate of 8-9 percent.

india Updated: Apr 19, 2009 12:49 IST

Prime Minister Manmohan Singh on Sunday said the world economy will recover "partially" by September and India would then go back to the growth rate of 8-9 percent.

"I expect the world economy to partially recover by September and if that happens we expect to go back to the growth rate of 8-9 percent, which has been the growth rate of India for the last five years," the prime minister said while addressing a press conference at Amin Gaon in Guwahati.

To a question on the reasons for the current global economic crisis, Manmohan Singh said: "This is a crisis because of the mishandling of the financial system by the major developed countries."

Prime Minister Manmohan Singh, who is a Rajya Sabha member from Assam, is here to address an election rally.

The second phase of polling in Assam will be held April 23.