Indian PM concerned about economic slowdown

Indian Prime Minister Manmohan Singh on Saturday expressed concern over the slowing economy but said that the nation must guard against the mood of "negativism", the Press Trust of India reported. "The current slowdown is a matter of concern... We must guard against the mood of negativism that seems to have gripped the country," Singh was quoted as saying at a meeting on national development for 12th Five-Year Plan beginning next fiscal year. Singh also expressed doubt whether India can attain 9 percent growth in the next fiscal year. "It is relevant to ask whether this is feasible since the economy is currently slowing down". Indian Financial Minister Pranab Mukherjee said earlier this week India would attain a maximum 8 percent growth in this fiscal year which ends March 2012. But Singh said the current slowdown should be seen as a short- term phenomenon reflecting highly unsettled conditions in the world economy. He added that growth rates were being revised downwards in all countries for the current year.