"The recent steps announced by the government have already started showing results," Vajpayee told a news conference in Bangalore. "There is stability in the share market... enquiries (for) investment in various sectors have increased in number."

Vajpayee said the government was expecting good foreign investment offers in various sectors. "The results will come. We are quite sure about that."

The government last week announced some steps to boost the country's economy that has been hit by a general slowdown. The federal government announced allowing of buy-back of shares by companies. The prime minister said the recent jump in the prices of essential commodities was due to untimely rains and unprecedented floods in various parts of the country. "Some steps have been taken and others are in the offing to control this. Prices havestarted showing a downward trend."

Vajpayee said the depressed sentiment among Indian businessmen and industrialists had nothing to do with his government's performance. "The economy is facing some difficult times but they are part of a wider situation prevailing in parts of east Asia and also as a result of developments in the world economy." "But compared to some neighbouring countries, our economy is in a strong position and can bear hardships."