Infra investment to push growth to 8 pc in 3 years: Montek

Tags: News
Attributing declining growth to global and domestic factors, Planning Commission Deputy Chairman Montek Singh Ahluwalia today said efforts to revive infrastructure investment would help in reverting to 8 per cent growth in next three years.

"We are working to revive the pace of investment in infrastructure, which we believe can provide the basis for a return of growth back to eight percent over a three year period. Our economic fundamentals are strong and we believe that a return to high growth is possible," Ahluwalia said while addressing the Strategic Economic Dialogue (SED) forum.

In the October-December quarter, India's economy grew below expectations at 4.7 per cent on falling output in the manufacturing sector.

Growth in the first nine months (April-December) was 4.6 per cent.

The economy must expand by 5.7 per cent in January- March quarter to achieve the estimated GDP expansion of 4.9 per cent in 2013-14.

"GDP growth in India has slowed down to around 5 per cent over the past two years, partly because of the global downturn but also because of the certain domestic constraints, which we have been addressing," he said.

Ahluwalia congratulated China for achieving 7.7 per cent growth, which was above than the targeted 7.5 per cent.

"Whatever be the outcome of the general election (in India), I am confident that the objective of strengthening bilateral economic relations with China will not be altered ...," he said.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • For those who are left to survive a war-torn world, let there be peace

    The hunger games have begun, and they have started reaping our children. There is no way around it.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Urs Schöttli

Shifting sands in the Far East

As was to be expected, Japanese prime minister Shinzo Abe ...

Zehra Naqvi

When humanity died, bestiality prevailed

The terrorist attack that killed 132 children in Peshawar has ...

Bubbles Sabharwal

Why self-esteem must be your best friend forever

Two negatives do make a positive! Imagine no doubts, no ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture