July 27 (Reuters) – Indian Prime Minister Manmohan Singh said the global economic recovery was still tentative, required concerted efforts by countries to anchor it firmly, and suggested government spending could make up for weak private demand, an official said on Sunday.
Bonds | Global Markets
Singh made the remarks to British Prime Minister David Cameron on Saturday when the two leaders met on the sidelines of the G20 summit, Indian Foreign Ministry spokesman Vishnu Prakash told reporters.
“Prime Minister Dr Manmohan Singh said that India would like to see continued concerted efforts by all countries to ensure the global economic recovery gets further consolidated as the process was still somewhat tentative,” Prakash said on Sunday.
“He said the slack in private demand could be compensated by fiscal measures and stimulus packages.”
(Reporting by C.J. Kuncheria)