I have always believed that the ultimate purpose of economic policies and development policy is to meet the basic needs of our people. And for that, we need a fast-expanding economy.

I am not very good at statistics. I am also a poor thinker.

I do recognize that India has to be the center, the hub of activity as far as the knowledge economy is concerned.

If you don't have a functioning financial system the world economy won't be revived. All the major economies have their responsibility to assist at a pace which is required to clean up the balance sheet of the banking system and to ensure that credit flows are resumed.

The Indian economy grew at 5.5 percent, but if you look at the last 30 years - for example, 1960 to 1985 - the progress made by East Asian countries was phenomenal. In a single generation they had been able to transform the character of their economy. They were able to get rid of chronic poverty.

We should put more money in health. We should put more money in devising credible social safety nets for the poor.

We are a mixed economy. We will remain a mixed economy. The public and private sector will continue to play a very important role. The private sector in our country has very ample scope and I am confident that India's entrepreneurs have the capacity, and the will to rise to the occasion.