"A number of measures aimed at investment revival, strengthening macro-economic stability and ramping up infrastructure will certainly posit India back into the high growth trajectory of 7-8 per cent," Mukherjee said at a SCOPE awards ceremony here.
The President noted that the green shoots of recovery were already visible, with the economy growing at 5.7 per cent during the first quarter of current fiscal.
"India today stands at the cusp of a transformative phase which, I firmly believe, will successfully place us in the league of developed nations over the next two decades," he said.
"Various steps taken towards fiscal consolidation have shown positive results. Inflation has decelerated over the past three months and we hope to contain it below 5 per cent through a judicious mix of policy measures,"
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"We should aim not only at catering to our huge domestic demand but also towards high quality product development and greater access to foreign markets. This would not only create adequate employment opportunities for our youth but also raise standards of living across," he said.
The state-owned firms like SAIL, HAL, BPCL and IOCL were among the PSUs conferred with the SCOPE Meritorious Awards 2012-13 on the occasion.