Sustained growth solution to poverty: PM

Prime Minister Manmohan Singh today said a sustained economic growth rate of 8 per cent would help solve problems like unemployment and poverty in the coming 8 to 10 years.

"Rural and infrastructure development besides creation of more irrigation facilities to bring additional land under cultivation, are the Centre's priority areas which will help to achieve the target of 8 per cent annual growth rate," he said after laying the foundation stone for the Rs 3,000-crore Outer Ring Road at Samshabad here.

Union Minister for Rural Development S Jaipal Reddy said the urban sector should be given due priority as in the next 20 years as about 60 per cent of the population is expected to live in cities.

"There is a dangerous dichotomy between developmental trends and urban infrastructure", he said and urged the state to mobilise adequate funds in the coming days for the development of urban infrastructure.

Centre's assistance to state urban development would be linked to reforms like progressive reduction of stamp duty and rationalisation of tenancy laws, he said.

Speaking on the occasion, Chief Minister Y S Rajsekhar Reddy said the Outer Ring Road project will be completed by December 2008 in line with the development of international airport at Samshabad.