Indian PM: Growth will rebound to 8%

Indian Prime Minister Manmohan Singh Friday reiterated the government's commitment to achieve high growth rate, projecting that the country's economy would bounce back to 7-8 percent growth in the next two to three years. "We have opened up the path for economic reforms. The government will use every option to push up growth rate. Our economy needs to grow at a rate of 8 to 9 percent to get rid of poverty and unemployment," he told the parliament. The prime minister added, "We will come out of current economic situation and bounce back to 7-8 percent growth in two to three years." India is one of the world's fastest growing economies, but its growth has slowed down over the past four years.