New Delhi: Days after DMK pulled out of the UPA, Prime Minister Manmohan Singh today candidly admitted that managing coalitions is not easy and urged industry leaders to have faith in government's determination to revive the economy.
Acknowledging that there were deficiencies in governance, Singh said the advantage of being a democracy is that the shortcomings were always put before the public.
"And there are indeed many deficiencies. Corruption is a problem. Bureaucratic inertia is a problem. Managing coalitions is not easy. But these problems have not arisen suddenly," he said adding that the government was taking steps to revive the economy.
However, Singh said these problems had not arisen suddenly and had existed even when the economy was growing at 8 per cent per annum.
"I would urge Indian industry to have faith in our determination and avoid getting swamped by a mood of negativism," he said addressing the Annual General Meeting of the Confederation of Indian Industry.
"We can in my view get back to 8 per cent growth even as we try to make the longer-term changes in our system to deal with these problems. And what is more, we can achieve growth of an inclusive kind," Singh said.
The United Progressive Alliance (UPA), which will complete nine years in government next month, has run into rough weather with key partners Trinamool Congress and DMK pulling out within a span of six months.
Samajwadi Party, a key outside supporter of the ruling alliance, has also been breathing fire on several issues and criticising the government headed by Singh.