Economy grew impressively under Manmohan Singh's first stint: Ratan Tata

New Delhi: Tata group Chairman Emeritus Ratan Tata on Wednesday lavished praise on Prime Minister Manmohan Singh, who is preparing to demit office after leading the Congress-led UPA government for 10 years.

Ratan Tata, tweeted, "India should salute Manmohan Singh who demits his office this week. Dr Singh conducted himself with great dignity, earning respect of international community for his integrity. Indian economy grew impressively under his leadership in the first five years."

The business tycoon also defended Manmohan Singh over the decline of the economy during the tenure of UPA-II. "Economy fell prey and massive inflationary forces followed an unprecendented decline in investment activity resulting allegations of subjective policy execution and exploitation. Dr Singh will be remembered for his high personal values and for the dignity he maintained in all times," Ratan Tata said in a message on micro blogging site Twitter.

Manmohan Singh will demit his office on May 17. Singh, who had earlier announced that he was not seeking third term in case UPA comes back to power, is also expected to submit his resignation to President Pranab Mukherjee, a day after the Lok Sabha election results are to be declared.