Prime Minister Manmohan Singh said on Saturday that the economy was on a growth path and reforms were on track.
"There is no evidence to believe that there is deceleration in growth. Industrial growth (so far this fiscal) has been higher than previous year, investment is buoyant, non-food credit growth is higher and export growth is better than last year," he said to a querry on whether economic growth has faltered during the United Progressive Alliance's regime.
PM confident of reining in inflation
Singh, however, said the government had no control over weather God and natural calamities like droughts and floods in some parts of the country.
"The short-term economic scenario worked out in a manner, which we would not like to go for," he said.
On reforms, he said the Common Minimum Programme has committed the government to a reform path to take care of those sections, which were so far deprived of the benefits of reforms.
"Deliberately, we have to do a mid course correction but that does not mean we have given up reforms," he said, adding "we will stay on our course."
The entire reform process would be carried out after taking into account the views of the coalition partners, he said.
"I am confident that we will overcome the obstacles," Singh said.
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