Constraints on reforms exist, says PM

Prime Minister Manmohan Singh today "confessed" to constraints in speeding up reforms during the remaining period of UPA regime and said the nation cannot afford to engage in "meaningless controversies" at the cost of economy.

"I would not be honest if I were not to confess that there are constraints in our ability to move fast and fast enough" he said adding though "politics is the art of possible," there were limitations on capacities for executing reforms during the remaining 18 months of the government.

Addressing the 'HT Summit - the India that can be' and answering questions thereafter, Singh said "we cannot assume that the country and the economy will move forward on their own, while we dissipate our energies in meaningless controversies.

"If all our time and energy is spent battling the ghosts of the past, how can we hope to do the day's work efficiently? And I dare say, there is a lot of work to be done," he said.

He cautioned against taking for granted the "unprecedented" growth of close to 9% in the past five years' and said "there are no magic ways to increase employment".