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E-mail ID will not be published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

  • Signalling good times, current account deficit is likely to grow from here on

    The current account deficit (CAD) numbers for April-June quarter declined sharply to 1.7 per cent of GDP.

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

Arun Nigavekar

Disruptive innovation in education

The past two weeks had a fair share of interesting ...

Rajgopal Nidamboor

Regain the spirit of focused power

For aeons, the human race has been experimenting with a ...

Gautam Gupta

Manufacturing must keep workers’ welfare in mind

It may be early days yet, but the labour reforms ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture