New Delhi, Aug 11 (IBNS): Indian Prime Minister Manmohan Singh on Saturday said the country's economic growth will be better than last year, while discounting rating agencies like Moody's observations on India.
"This year we will see better than 6.5 percent (GDP) growth of last year," Singh told reporters.
Singh made the remarks on the sidelines of the swearing in ceremony of Hamid Ansari as the Vice-President of the country.
He said: "The fundamentals of the economy are strong."
"We have the highest savings and investments rate in the world," he said.
Speaking on ratings agency Moody's analysis of India's economy, the PM said: "It is a cause of concern but one should not draw unwarranted conclusions.”
Moody's had scaled down its forecast for India's economic growth to 5.5 per cent this fiscal.