Prime Minister Manmohan Singh said on Friday that "we are set for better times". "The cycle of global economic growth is heading for better. India's growth momentum will revive," Prime Minister Manmohan Singh said. The PM was addressing mediapersons in New Delhi. "We did not do well in the assembly elections. We will learn our lessons," the PM said. Prime Minister Manmohan Singh began his press conference by wishing a happy new year. This is the second full-fledged news conference by Manmohan Singh during the UPA-II and third in his entire tenure.